Sa Sa International 0178

Re: Sa Sa International 0178

Postby winston » Fri Jun 19, 2020 5:42 am

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Sa Sa says business still losing money

Source: SCMP

https://www.scmp.com/business/companies ... ness-still
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Re: Sa Sa International 0178

Postby winston » Fri Jun 19, 2020 5:52 am

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Dividend skipped as Sa Sa falls $515m in the red

by Winnie Lee

Sa Sa International (0178) recorded a net loss of HK$515.9 million for the year ended March, compared to a profit of HK$470.8 million a year ago, with earnings dragged down by political unrest and the Covid-19 pandemic.

For the first time, the cosmetic chain did not declare a final dividend due to "the challenging and uncertain operational environment in the operating markets."

Retail sales in Hong Kong and Macau slumped 75.9 percent year-on-year from April to June 14.

Sa Sa incurred a loss of HK$413.6 million in Hong Kong and Macau for the year ended March, compared to a profit of HK$512.2 million in the same period last year.

Retail and wholesale sales for the period fell 33.2 percent to HK$4.74 billion.

Sa Sa has 112 stores in Hong Kong and Macau as of the end of March, down 6 from a year ago. The company closed all its retail stores in Singapore in December 2019, and its total number of retail stores fell to 235.

The group will endeavor to ask landlords for substantial rent cuts or change their tenancies from fixed rent to commission-based upon renewal.

The company also said it requires at least 60 percent discount to cover rental costs, and that it expects more than 10 stores in Hong Kong and Macau will have to close.

From April 1 to last Sunday, the turnover of retail sales and wholesalers plunged 69.5 percent year-on-year.

China retail sales fell 15.3 percent, and e-commerce sales fell 22.7 percent.

The group said it will focus on developing online sales through social e-commerce, such as WeChat Mini Programs.

Source: The Standard

https://www.thestandard.com.hk/section- ... in-the-red
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Re: Sa Sa International 0178

Postby behappyalways » Sat Jun 20, 2020 10:30 am

莎莎去年業績轉盈為虧 蝕5.1億 - 20200618 - 財經新聞 - 有線新聞 CABLE News
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Re: Sa Sa International 0178

Postby winston » Mon Jun 22, 2020 11:24 am

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Bottoming out

FYMar20 results in line with expectations. While 1QFY21 was substantially affected by the COVID-19 pandemic, sales rebounded slightly m-o-m across markets with China achieving flattish sales by May

Near-term margin pressure from stock clearance and operating deleverage could be inevitable, while the potential reopening of borders in phases, likely by 2QFY21 could start to scale-up operations again

Given a sluggish 1QFY21, we cut FY21 earnings by c.HK$100m to a loss of HK$30m but maintain FY22 profit estimate of HK$260m.

Maintain BUY with unchanged TP of HK$1.68

Source: DBS

https://researchwise.dbsvresearch.com/R ... fabikfhgbh
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Re: Sa Sa International 0178

Postby winston » Thu Nov 19, 2020 1:02 pm

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SA SA INT'L 1H3FQ Retail & Wholesale Turnover Slips 34.8% YoY

SA SA INT'L (00178.HK) announced that for the fiscal third quarter from 1 October to 15 November 2020, the Group’s retail and wholesale turnover decreased by 34.8% compared to the same period last year.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Thu Nov 19, 2020 1:05 pm

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SA SA INT'L (00178.HK) Interim Loss Deepens to HK$242M

SA SA INT'L (00178.HK) +0.010 (+0.781%) announced interim results ended September 2020.

Turnover declined 62.1% yearly to HK$1.286 billion.

Loss deepened to HK$242 million from HK$36.53 million in the corresponding period of the previous year.

LPS equaled HK7.8 cents. No dividend was declared.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Fri Nov 20, 2020 7:31 am

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Sa Sa eyeing residential stores as losses hit $242m

by Winnie Lee

Sa Sa International (0178) yesterday said its interim loss rose more than five-fold to HK$242 million compared to a HK$36.5 million loss in the previous period.

The cosmetics retailer also said it might close more stores in tourist hotspots and open outlets in residential areas.

Retail sales in Hong Kong fell 68 percent to HK$671 million. Local consumer sales fell 19 percent and the group will focus on local consumer business in the next few months.

Mainland sales fell 10 percent to HK$117.3 million. Same-store-sales based on the yuan were down 1 percent.

However, e-commerce sales rose 9.5 percent to HK$186.1 million.

The group's rental expense was HK$150 million less compared to the same period last year. A further 21 shops are subject to lease renewal this financial year.

Store numbers in Hong Kong and Macau dropped by 12 to 106. It had 231 stores at the end of September, 13 less than a year ago.


Source: The Standard

https://www.thestandard.com.hk/section- ... -hit-$242m
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