Sa Sa International 0178

Re: Sa Sa International 0178

Postby behappyalways » Fri Jun 24, 2016 7:55 am

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Re: Sa Sa International 0178

Postby winston » Tue Oct 25, 2016 7:47 am

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Sa Sa warns of interim profit plunge

by Dominique Nguy

Sa Sa International (0178) warned yesterday it expects its net profit for six months ended September to slump by about 35 to 45 percent from the same period last year.

The cosmetics chain said the principal culprit for the decline in profits include drop in both sales and gross profit margin of the Hong Kong and Macau operations, weakness in some overseas operations and fall in earnings from its online business.

It also revealed yesterday that retail and wholesale turnover in the second quarter between July and September dropped by 2.3 percent to HK$1.91 billion year on year.

Turnover in the Hong Kong and Macau markets declined by 2.2 percent to HK$1.55 billion, while same-store sales decreased by 2.5 percent.

The number of transactions rose by 3.9 percent to 4.7 million due to traffic growth, but the average sales value per transaction fell by 5.8 percent to HK$326.

The number of transactions of local customers gained 1.8 percent, while that by mainlanders rose 5.9 percent. Sa Sa said the improvement was due to adjusting products to adapt to market demand.

During the Golden Week this month, sales in Hong Kong rose by 13.8 percent from the same period last year.

Meanwhile shoe retailer Belle International's (1880) net profit for the six months ended August declined by 19.7 percent to 1.73 billion yuan (HK$1.98 billion) from a year earlier. Revenue durikng the period rose by 0.9 percent to 19.53 billion yuan.

Revenue of its footwear business decreased by 12.7 percent to 8.59 billion yuan, but revenue from its sportswear and apparel business rose by 14.9 percent to 10.94 billion yuan.

Belle said in its interim report that growth in its sportswear and apparel business was duey to same-store sales growth and continued retail network expansion.

Gross profit margin for the footwear business dropped by 1.2 percent to 67.1 percent, while that for the sportswear and apparel business dipped by 1.2 percent to 43.5 percent.

The retailer said changes in foot traffic across different retail channels and consumers' shifting style preferences are placing structural pressure on the fashion footwear business.

Source: The Standard
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Re: Sa Sa International 0178

Postby winston » Wed Nov 23, 2016 1:52 pm

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<Result Ann>SA SA INT'L Interim Net Profit Down 37.27% to HK$95.984M; Interim & Special Div HK9 Cents

SA SA INT'L (00178.HK) announced that for the interim period as of the end of September, the net profit fell 37.27% yearly to HK$95.984 million.

The EPS equaled HK3.3 cents; an interim dividend of HK5 cents was declared, couple with a special dividend of HK4 cents.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Thu Nov 24, 2016 7:08 am

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Cosmetics chain Sa Sa posts decline in half-yearly profits on weak retail sales

Dwindling sales in HK, Macau hits turnover despite growth in company’s total sales transactions

Retail sales in Hong Kong and Macau, which make up over 80 per cent of Sa Sa’s turnover, slipped 3.6 per cent on weak mainland tourist numbers, as well as changes in consumer preferences and a strong Hong Kong dollar.


Going forward, Sasa will target “aggressive” rental cuts of 40 to 50 per cent in Hong Kong and Macau.

The company considers it a good time to open stores in popular areas, where rents are plunging 40 to 60 per cent


The company’s main strategic focus will be its online-to-offline (O2O) strategy, or the integration of its physical stores with its website sasa.com. In the first half, the website garnered 5.3 per cent of the company’s total turnover, a slight fall of 0.1 per cent compared to last year.

“We feel that O2O will increase our competitiveness and also enhance sales, and it opens up a lot of opportunities for us,” Look said. “It allows us to target new customers, retain old ones, do targeted marketing.”

This includes collaborations with Chinese e-commerce platforms such as Kaola.com and JD.com.


Source: SCMP

http://www.scmp.com/business/article/20 ... tail-sales
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Re: Sa Sa International 0178

Postby winston » Thu Nov 24, 2016 7:18 am

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Sa Sa finally sees the light

by Carrie Chen

Skin care and cosmetics retailer Sa Sa International Holdings (0178) yesterday flagged improvements in Hong Kong's retail business even though it posted a 37.3 percent plunge in first-half net profit, partly due to a drop in mainland tourist numbers.

The company's shares closed 4.22 percent higher at HK$3.46 despite its worst interim profit in eight years, after chairman Simon Kwok Siu-ming hinted the bottom may be approaching for SAR retail sales following 19 straight months of decline.

"The Hong Kong retail market showed gradual signs of improvement during the period. However, the market has not yet fully recovered," Kwok said, adding the sales decline is expected to continue narrowing in the second half.

"Profitability will continue to be impacted by strong competition, and with lower gross profit margins," he added, flagging further cost-cutting in the months ahead.

Sa Sa's net profit fell to HK$96 million, or 3.3 HK cents per share, for the six months ended September 30, from HK$153 million a year ago, as revenues slipped 4 percent to HK$3.63 billion from HK$3.78 billion.

Retail sales in Hong Kong and Macau declined 3.6 percent, while gross profit margin went down to 41.2 percent from 42.9 percent.

The decrease in gross profit margin was because the company was focusing on sales of trendy products, at the expense of promoting those with higher gross profit, Kwok said.

Sa Sa plans to sell more Japanese and Korean products in future to increase gross profit, he added.

The company trimmed its overall retail network to 283 from 291, but Kwok said the firm is relatively active. He emphasized it is the best time to seek to open new stores at present, as rents have dropped up to 50 percent in the first half of this year.

"We will open at least two more stores in the second half of the fiscal year," he said.

In the second half, the company may also open more outlets of SaSa boutique, which has five stores at present, to attract young consumers, said vice chairman Eleanor Kwok Law Kwai-chun.

An interim dividend of 5 HK cents and a special dividend of 4 HK cents per share are proposed.

Source: The Standard
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Re: Sa Sa International 0178

Postby winston » Thu Mar 16, 2017 8:59 am

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Another share worth mentioning is Sa Sa International (178).

It operates cosmetics chain stores.

It closed at HK$3.12 yesterday with a very attractive 7.5 percent dividend yield.

As fewer Chinese tourists go to South Korea now because of the THADD anti- missile dispute, more will come to Hong Kong to buy cosmetics. Sa Sa should be a beneficiary.

Source: Dr Check, The Standard
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Re: Sa Sa International 0178

Postby winston » Wed Apr 26, 2017 7:04 am

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Sasa shows smudge in its yearly profit line

by Samantha Wong

A profit fall of 10 to 20 percent is expected by Sa Sa International Holdings for the year ending March 31.
The Hong Kong-based cosmetics retailer has already issued a warning about the outlook.

That came amid a period of adjusting the product mix and despite turnover in retailing and wholesaling in Hong Kong and Macau during the fourth quarter increasing by 4.9 percent on a year-on-year basis.

Beyond the two SARs, retail and wholesale turnover in the mainland, Taiwan, Singapore and Malaysia plus business on sasa.com rose by 1.5 percent during the period.

Retail sales in Hong Kong and Macau on a year-on-year basis were also positive.

After increasing by 1 percent in the third quarter there was a substantial lift in the fourth period, which saw an increase of 5.8 percent.

On a same-store basis, the increase was 1.3 percent and was mainly driven by an increase of 8 percent in the number of transactions of mainland customers, which offset a decrease of 1.3 percent in average sales per transaction.

Local customer traffic was said to have remained flat, but the number of transactions and average sales per transaction were stable.

Sasa chairman and chief executive Simon Kwok Siu-ming said improved sales performances came with more efforts to adjust product offerings and meet demand for trendy products. But this caused "a continued downward pressure on gross profit margin for the quarter," he said.

Source: The Standard
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Re: Sa Sa International 0178

Postby winston » Fri Jun 16, 2017 3:33 pm

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Sa Sa International: Buy the Dip?

By Isabella Zhong

Shares of Sa Sa International (178.HK) continue to slide on Friday following the Hong Kong cosmetics retailer’s unexpected dividend cut.

While the 14.8% slide in Sa Sa’s net profit for fiscal 2017 was in line with expectations, its dividend payout was disappointing.

Here’s Nomura analyst Emily Lee with a closer look at Sa Sa’s results:

Sa Sa reported its FY17 result on 15 June, with net profit retreating 14.8% to HKD327m. The fall is in line with the 10-20% drop as guided in its profit warning announced in April.

Gross and operating margin retreated 1.6/0.8ppts y/y, due mainly to the unfavourable shift in product mix to lower margin parallel imported goods.

The biggest negative surprise was the cut in the final special dividend payment, lowering the full year payout to 152% (175% in FY16).

Lee notes a recovery in sales for Sa Sa’s Hong Kong stores remains uncertain but its margins should have bottomed out.

Management guided that in 1QFY18 to-date, the same store sales decline narrowed to - 1.4% (-1.8% in FY17), but noted the sales trend deteriorated since mid-May.

For the 14 leases renewed year-to-date, average rental costs reduced by 12%, which should lift profits.

Margins should have bottomed as the company pushed forward the launch of new private labels, implying that the house brand mix should see some improvement from the 38% in FY18.

Another potential bright spot is narrower losses for Sa Sa’s China and ecommerce businesses.

For the China and e-commerce business, losses in China narrowed from HKD39.6mn in FY16 to HKD15.1mn in FY17. However, losses in e-commerce more than doubled from HKD31.5mn in FY16 to HKD67.1mn in FY17.

We should expect the losses from these segments to narrow as Sa Sa should benefit from increasing contributions from its China warehouse, which is running at much cheaper costs vs HK.

Lee maintained her neutral rating on Sa Sa with a HKD3.30 a share target price, which implies 6% upside. But cautions on jumping on Sa Sa shares right now as the stock is seen by the market as a yield play and the company’s not-so-generous guidance for a dividend payout of between 70% and 100% in fiscal 2018 could weigh on its share price.

Shares of Sa Sa are down 55% from their peak in 2014 as slowing retail sales in Hong Kong on the back lower mainland Chinese visitor arrivals dented the company’s earnings. The stock trades at 20 times forward earnings and pays a 5.4% dividend yield.

Source: Barron's Asia

http://www.barrons.com/articles/sa-sa-i ... 1497594124
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Re: Sa Sa International 0178

Postby winston » Fri Jan 12, 2018 8:26 am

3Q Results

Beauty & health care chain Sa Sa International Holdings (0178) said its turnover for the third quarter ended December 31 last year increased 6.5 percent year-on-year to HK$2.28 billion.

Turnover in the Hong Kong and Macau markets increased by 8.1 percent, while same-store sales rose by 3.7 percent.

It said turnover in mainland China, Singapore and Malaysia grew 13 percent, 3.6 percent and 3.9 percent, respectively.

Meanwhile, turnover in Taiwan fell by 5.5 percent, while its e-commerce segment suffered a 21.9 percent setback.

Source: The Standard
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Re: Sa Sa International 0178

Postby winston » Fri Jun 22, 2018 5:18 am

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Sa Sa's profit jumps 35pc to $440m

by Janice Huang

Skincare and cosmetics retailer Sa Sa International Holdings (0178) saw its net profit jumped 34.7 percent while turnover rose 6.2 percent for the year ended March 31, 2018, when compared with the same period a year before.

Taking into account of the net loss of HK$25.1 million from its discontinued operation in Taiwan, the company's net profit stood at HK$440.1 million, while the revenues were HK$7.55 billion.

In particular, retail and wholesale sales in Hong Kong and Macau increased 7.9 percent from HK$6.27 billion in the previous year to HK$6.76 billion, while same-store growth was 3.9 percent.

In a stock exchange filing, the company revealed that demand for middle and high-end cosmetics product is soaring in mainland China, on the back of strong retail growth driven by the improved purchasing power of mainland residents living in the third and fourth-tier cities.

The group's basic earnings per share were 14.6 HK cents as compared to 11.2 HK cents for the previous year.

The retailer has proposed a final dividend of 11 HK cents per share, together with a special dividend of 3 HK cents to commemorate the 40th anniversary of the company.

Total annual dividend amounted to 17.5 HK cents.

The group's retail outlets for the continuing operations increased from 263 last year to 265.

Chairman and chief executive Simon Kwok Siu-ming said Sa Sa plans to open at least five or six new stores in Hong Kong this fiscal year, and might set up more outlets if the conditions permit.

Sa Sa's loss in e-commerce business narrowed to HK$28 million, from HK$67 million a year before.

Kwok said that though he could not guarantee a profit would be achieved, he had confidence in increasing revenues in this particular business segment.

Kwok said that there was a rebound in the number of mainland visitors in Hong Kong in the months of March and April, with an increase of 10 percent and 15 percent respectively.

He added that the increasing trend in mainland tourist arrivals would continue in the future, thanks to the Hong Kong-Zhuhai-Macao Bridge and the high-speed rail link. He also said he was positive about the retail market for the second half of this year.

Kwok said that Sa Sa would not be affected by currency fluctuations, although the Chinese yuan has been weak recently.

The consumer sentiment of mainland visitors might decline, Kwok said, but added that revenue from those customers only account for a small part of Sa Sa's total revenue.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0622&sid=2
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