Parkson Lost 110 Thousand In The First Quarter And Closed 2 Stores With Poor Performance.

In May 23rd, Parkson Retail Group Ltd released its first quarter earnings for March 31, 2019, which had not been audited.

According to the financial report, the Parkson Group recorded a profit of about 1 billion 270 million yuan (the same below) in the first quarter, an increase of 8.1% over the same period last year.

Shareholders accounted for about 110 thousand yuan in the year and 44 million 149 thousand yuan in the same period last year.

In the first quarter, Parkson recorded a total sales income of 4 billion 183 million yuan, down 3.2% from the same period last year, mainly due to the decline in same store sales in the macroeconomic downturn and the impact of closing stores with poor performance.

In the first quarter, Parkson group store sales fell by 2.7%.

Gross profit margin for commodity sales fell 0.1% to 15.6% over the same period last year.

Total operating income increased by 7.6% or RMB 98 million 400 thousand yuan to RMB 1 billion 389 million yuan.

The main benefits are: the direct sales volume brought about by the strong sales performance of cosmetics and accessories category; the income generated by Parkson CreditSdn Bhd's credit services has been incorporated into the group performance since November 1, 2018.

The proportion of direct sales to total merchandise sales rose to 21.9% from 17.3% in the same period last year, due to the increase in the amount of direct sales brought about by cosmetics and accessories.

Franchise sales contributed 78.1% of the total.

Cosmetics and accessories account for about 51.1% of total merchandise sales, fashion and clothing categories account for about 40.9%, household appliances and electrical appliances account for about 2.6%, while the remaining 5.4% are contributed by food and fresh product categories.

During the review period, the company closed 2 stores with poor performance to make better use of resources.

As of March 31, 2019, the Group operates 41 department stores in 30 cities in China (including the concept store "ParksonBeauty"), 1 shopping plaza, 2 Parkson City Plaza, supermarkets, clothing and catering stores.