Tse Sui Lun (TSL) recorded a low single-digit growth in same-store sales during the Chinese New Year period. Chairman & CEO of the group Annie Yau attributed the growth to the improved retail environment in Hong Kong, the drop in rental of some shops, and the several sales-driven initiatives launched during the CNY.
The group’s deputy chairman, CSO & CFO Estella Ng told Mingpao that rental prices started to fall recently at around 10 to 15 percent for shops in shopping malls and at as much as 20 percent for street-front shops. She added that TSL is operating nearly 30 shops in Hong Kong and Macau. She expects to open two or three outlets a year. There are over 300 sales points in the Mainland where a hundred sales points are planned to open every two years, with 70 percent franchised and the rest self-operated.
TSL is expanding in a ‘shop-for-shop’ mode in Hong Kong. After the recently-opened shops at Time Square in Causeway Bay and Whampoa in Hunghom, a new store is going to be launched in May at New Town Plaza, Shatin.
← Back