HONG KONG, Aug 23, 2021 – (ACN Newswire) – Parkson Retail Group Limited (” Parkson” or the “Company”, with its subsidiaries jointly referred as the “Group”, HKEx stock code:3368 HK), the leading across the country way of life principle merchant in China, today reveals the Group’s interim outcomes for the 6 months ended 30 June 2021 (” Review Period”).
During the Review Period, with the intro of vaccines for the Coronavirus (COVID-19) and the execution of financial healing procedures, the international market has actually been recuperating slowly. Particularly for China whose economy has actually mainly rebounded from the COVID-19 pandemic and documented overall gross sales profits (” GSP”) of RMB6,2537 million inclusive of worth included tax, representing a boost of 27.7%as compared to the very same duration of in 2015, which was primarily due to increase in very same shop sales (” SSS”). SSS in the Review Period boost by 25.9%, showing an enhancement due to minimize effect from COVID-19 In the Review Period, the Group’s make money from operations increased by 154.5%year-on-year to RMB2474 million.
Enrich Retail Portfolio
Facing the constant difficulties of market modifications and strong competitors, Parkson is concentrated on broadening its retail portfolio with a versatile and varied technique. The Group thinks that its techniques of “Multiple Stores in a City” and “Differentiated Market Positioning” can assist handle Parkson’s outlet store successfully and connect to more clients at various usage levels and with various intake routines. This will allow the Group to acquire more market share in the long term.
The Group’s 2nd outlet store in Datong City, Shanxi Province effectively opened in January2021 The shop runs as a “outlet store and shopping center complex”, in order to boost the retail portfolio of the home.
During the Review Period, the updating and remodelling job of Suzhou Changfa Commercial Building is still on course and anticipated to be introduced in the 4th quarter of2021 Its brand-new outlook of “Parkson Changfa Hui” will assist to incorporate leading style way of life retail ideas with Suzhou way of life to fulfill the requirements of various customer groups. This partnership with the widely known Jinjin Changfa Group symbolizes the entry of Parkson Group in the core market of Suzhou and to capitalised on the strong need of the Suzhou market. The Group thinks that this brand-new style way of life retail idea will satisfy the requirements of surrounding locals, youths, and travelers for shopping, leisure, home entertainment, and health functions.
Another awaited task of the Group – “Wuzhou Sanqi Parkson”, a massive city complex established by Wuzhou Sankee Investment Co., Ltd., is on schedule and anticipated to open in the 4th quarter of2021 It will function as the 4th shop of the Group in Guangxi Zhuang Autonomous Region, representing a brand-new cultural landmark incorporating workplace, house, hotel, F&B, retail, and home entertainment. The preparation and advancement of Wuzhou Sanqi Parkson Store remains in line with the Group’s advancement method in this Region.
On 11 July 2021, the Group’s indirect wholly-owned subsidiary, Jiangxi Parkson Shopping Centre Management Co., Ltd. has actually signed a Tenancy Agreement with Yichun Hong Lin Hotel Co., Ltd. with the intent of opening a brand-new shop in Yichun City, Jiangxi Province. The Group thinks that this task will play a crucial function in the advancement of the Group’s service in Jiangxi Province, and when opened in 2022, it will be the Group’s 3rd shop in Jiangxi Province.
Promoting Differentiation and Pioneering Enhancement
Being one of China’s leading supporters of style way of life retail ideas, Parkson has actually been committed to establishing an outstanding credibility, keeping its consumer base, and bring in brand-new clients, by distinguishing its items and boosting customer experience. Throughout the Review Period, the Group tactically broadened its item portfolio to satisfy the growing customer requirements.
The Group continuously keeps an eye on the advancement pattern of the appeal market, and launches targeted advancement techniques for the charm sector. The Group works together with a number of widely known charm brand names to present unique items in mix with personalized service experiences to draw more customers from the more youthful generation. Parkson’s self-operated makeup brand names – Parkson Beauty and Play Up have actually ended up being immensely popular amongst young customers after embracing these distinguished item methods. The Group will continue to raise its brand name image and credibility through various marketing promos, in order to enhance its image as a fashionable merchant and open more branch shops in the future.
On 28 June 2021, the Group had actually signed an arrangement with Wenzhou WanYing to open a brand-new Parkson Beauty shop in Wenzhou city, Zhejiang Province, which is targeted to open in2022 It is anticipated that the opening of the shop will assist the Group to additional grow its service in the location.
The property improvement task of the north structure of Beijing Fuxingmen Parkson Store is anticipated to be finished in the 2nd half of2021 Found in Beijing Financial Street, the Group is positive that the office of Fuxingmen North Building will be used up due to high need because location and contribute steady repeating rental earnings to the Group.
Enhance Multi-channel Services by “O2O New Retail Strategy”
With the development of Internet innovation and the effect of COVID-19, offline intake has actually been substantially impacted. The retail market has actually embraced a brand-new “online offline” service design. As a leading style way of life seller in China, the Group has actually intensely promoted the “O2O New Retail Strategy” and enhanced its brand-new sales design to catch the growing potential customers of online retail. To this end, the Group has actually started different stimulus actions to improve offline retail organization development through online channels consisting of Parkson’s main WeChat account and mobile shopping mini-programs. At the very same time, the Group is taking chances to welcome consumers to go to Parkson shops for a boost shopping experience.
Parkson’s management commented, “With the brand-new Biden administration pertaining to power in the U.S., there is still a great deal of obscurity concerning Sino-U.S. relations. In addition, although vaccines for COVID-19 have actually been introduced, the pandemic is not over with the breakout of altered variations of the infection. Due to all these aspects, the international macroeconomic environment is anticipated to stay unsteady in the coming year. While for China, with the stabilised COVID-19 scenario in the nation and the steady healing of the regional retail market, customers will tend to invest cash in the regional market due to the fact that of the failure to take a trip abroad. In view of this, we stay positive about the general retail market potential customers in China in the 2nd half of the year.
We will actively study market patterns and customer needs, widen the item variety of Parkson stores, and offer consumers with a more varied collection of premium items in the future to totally take the chances induced by the market healing. The Group will likewise put more efforts and resources into online marketing to increase offline retail sales. To this end, the Group will strongly execute the “O2O New Retail Strategy”, and incorporate online and offline retail experience through social networks platforms consisting of Douyin, WeChat, mini-programs and personalized customer service to tap on retail market modifications and growing market need, and broaden market share through premium product or services.
In light of macroeconomic instability, we are actively searching for various service partners to check out brand-new company chances, in order to diversify the Group’s service portfolio and enhance Parkson’s position as a leading way of life merchant in China.”
About Parkson Retail Group Limited
Parkson Retail Group Limited (” Parkson”) is a leading across the country way of life retail operator in China. Since 30 June 2021, the Group ran and handled 41 Parkson shops (consisting of idea shops “Parkson Beauty”), 1 Lion Mall, 2 Parkson Newcore City Malls, grocery stores, style and food & drink outlets, in 28 significant cities.
With over twenty years of retail experience in China, Parkson comprehends market advancements and customer need. The Group includes shopping, dining and home entertainment components, within a mix of offline and online channels to deal with young and middle-to upper-middle-income customers.
Topic: Press release summary
Source: Parkson Retail Group Limited
Sectors: Retail & eCommerce
From the Asia Corporate News Network
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