Giordano sales pushed down by weak China demand

Casual clothing chain Giordano International posted a 1 per cent increase in annual revenue to HK$5.67 billion last year despite sales on the mainland and Taiwan declining amid weaker demand.

On the mainland, the company's revenue dropped 6 per cent year on year to HK$1.9 billion and gross profit fell 5 per cent to HK$1.07 billion.

The company's chairman, Peter Lau Kwok-kuen, said: "In the first two months this year, our sales situation has improved [on the mainland]. Gross profit margin has increased during the period."

via Business feed http://www.scmp.com/business/companies/article/1164249/giordano-sales-pushed-down-weak-china-demand