Sa Sa International has reported weak results for its fiscal full year, with profits and sales down due to the decline in tourists.
For the year ending 31 March, overall sales were down 12.8% to HK$7.85bn, with profit down 54.3% to HK$383.5m. Sales in Hong Kong and Macau fell by 14.2% to HK$6.2bn, which it attributed to a “a ‘continuous drop in mainland China tourist arrivals”.
However, the health & beauty chain also reported a 6.2% increase in online sales to HK$442m, helped by the launch of new mobile sites in mainland China. It also recorded growth at its Malaysian stores, which saw sales grow by 9.1%.