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China Dongxiang (03818) issues Q2 operation data
12 Jul 2019
(Infocast News) China Dongxiang (03818) announced that for the second quarter of 2019, the retail performance of its Kappa stores (excluding Kappa kids' apparel business and Japan business) for the overall platform registered a middle single digit growth on a year-on-year basis, of which the off-line business recorded a low single digit growth and the e-commerce business recorded a growth of 30-35%.

For the second quarter of 2019, in respect of Kappa stores (excluding Kappa kids' apparel business and Japan business) which have been in operation since the beginning of the same quarter last year, the SSS for the overall platform registered a low single digit decrease on a year-on-year basis, of which the off-line business recorded a high single digit decrease while the e-commerce business registered a growth of 30-35%.

For the second quarter ended 30 June 2019, the number of retail stores of the group under Kappa brand was 1,228 (excluding Kappa kids' apparel business and Japan business), representing a net increase of 48 as compared with that as at the end of last year.

The group's Kappa brand business is in a period of transformation. The group has continued its reforms by adopting a series of effective measures focusing on customers, channels, brands and products and made some progress with interim achievements in line with expectation. In the second quarter of 2019, the group officially launched forward and reverse logistics and distribution solutions upon the completion of the construction of two nationwide logistics and distribution centres, sufficiently securing prompt movement of products through omni-channel distribution. Meanwhile, the group has been strengthening its management and control over omni-channel distribution of products by actively developing and preparing cloud warehouse system in order to speed up the movement of omni-channel distribution of products.

(WL)
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