Sasa reports over 60 per cent sales jump in Hong Kong and Macau during National Day holiday
Cosmetics retailer Sasa announced that its offline sales in Hong Kong and Macau rose over 60 per cent year-on-year during the National Day holiday. The group also posted a 37 per cent increase in total turnover for the last quarter, driven by strong offline growth.
Cosmetics retailer Sasa announced on 7 October that its offline sales in Hong Kong and Macau rose more than 60 per cent year-on-year during the National Day holiday period. Same-store sales increased by over 50 per cent, while the number of transactions, average transaction value and items per transaction all recorded significant growth.
The group also reported that total turnover for the last quarter increased by more than 37 per cent year-on-year to 1.41 billion Hong Kong dollars. Offline business in Hong Kong and Macau grew 52 per cent to 1.12 billion dollars, with same-store sales up nearly 47 per cent. Meanwhile, turnover from Southeast Asia rose more than 11 per cent to 98.9 million dollars.
Online business fell 5 per cent to 190 million dollars in the quarter, dragged down by a 49 per cent drop in B2B sales. However, B2C online sales rose more than 22 per cent. Sasa said it had strategically reduced lower-margin bulk B2B orders in order to reserve inventory and expand into higher-margin and fast-growing offline retail and B2C online markets.
As of the end of September, Sasa operated 162 stores, a net increase of two from the end of June. In Hong Kong and Macau, store numbers rose by a net three to 90.