L’Occitane’s second-quarter sales fell 4.5%, same-store sales in Hong Kong branch fell 30% in the first half of the fiscal year

Financial News

Written by: Zhang Weilun

2020-10-27 17:48

Last update date: 2020-10-27 17:49

L'Occitane (0973) announced operating data for the second quarter of the current fiscal year ending September this year. Sales were 342 million yuan (EUR ‧ the same below), down 4.5% year-on-year. It also pointed out that in the first half of the current fiscal year, sales were 6.16 Billion yuan, down 13.1% year-on-year.

In the second quarter of the current fiscal year, the Hong Kong market was the most bleak, with sales falling 30.1% year-on-year to 23.025 million yuan, while sales in the Japanese market fell 6.9% year-on-year to 47.574 million yuan.

In the first half of the year, sales in the Hong Kong market and the Japanese market fell 43.2% year-on-year and 17.4%.

The company also pointed out that same-store sales in the first half of the year fell 10.4% year-on-year.

The same store sales in Hong Kong market fell 30.1% year-on-year, the US market fell 23.3%, and the Japanese market fell 14.3%.

However, during the period in China and Taiwan, same-store sales rose 11.3% and 17.1% respectively.

L'Occitane pointed out that it will continue to make adjustments to accelerate the transformation and seek to cut costs and streamline operations.

The company has recently started a reorganization and it is expected that 300 positions will be cut during the reorganization process, mainly involving office positions.

L’Occitane’s same-store sales fell 24.9% in the first fiscal quarter, 52 stores closed

L'Occitane earns 116 million euros for the year, final interest cut by 25%

L'Occitane retail market retail stocks