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Retail Asia26/02/2024

Parkson Retail Asia booked a lower net profit last year with two fewer stores and weak consumer spending. The department store chain’s net profit fell 8.5 percent to S$26.3 million (US$19.6 million), while revenue fell 4 percent to S$221.6 million (US 165 million). The company ended the year with 37 stores, down from 39 in […]

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Retail Asia29/07/2020

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Malaysian department-store operator Parkson is to quit operating full-scale stores in Vietnam after years of losses. At one stage the company had 10 stores in the country and was confident of long-term success given it was the first overseas department-store brand to enter the market. This week, Singapore-listed Parkson Retail Asia announced that subject to […]

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Retail Asia30/04/2020

Malaysian department-store operator Parkson has lost a court case in Cambodia, being ordered to pay US$144.5 million in damages to its landlord Hassan. According to documents filed with the stock exchange in Malaysia, the firm was obliged to forfeit its security deposit and advance payments on top of the rental fee for the whole period […]

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Retail Asia03/01/2020

Malaysian department store chain Parkson will close its outlet in MyTown Shopping Centre, Cheras next month. The closure will come fast on the heels of recent shut-downs of Parkson stores at Suria KLCC and M Square Mall in Puchong, and occurs less than three years after the 150,000sqft store started trading. “The retail market is […]

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Retail Asia21/08/2019

Malaysian department store operator Parkson has closed its store in Puchong just 18 months after it opened. The closure follows its exit from Suria KLCC in downtown Kuala Lumpur after 20 years. A Parkson spokesperson said the Puchong store had not met sales expectations. “The retail market is very dynamic. Store openings and closures are […]

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Retail Asia28/06/2019

Parkson Holdings’ Beijing operation Parkson Retail Development (PRD) has extended a department store lease in the city until the end of 2021. PRD’s Hong Kong-based owner PRGL announced in a stock exchange filing in Hong Kong the firm has signed a new lease agreement for a 189sqm area from the China National Arts and Crafts […]

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Retail Asia07/06/2019

Parkson Retail Group is preparing to occupy a complex above Nanjing Railway Station in Chinese Jiangxi. The group, a Hong Kong-listed firm controlled by Malaysian Parkson Holdings Bhd, won its US$6.1 million bid for the tenancy of buildings above the Bayi Guan Station of the Nanchang Rail Transit Line 1 in the city. The 12-year […]

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Retail Asia24/04/2019

Parkson Vietnam has kicked off the renovation of its six-story Saigon Tourist Plaza flagship in downtown Ho Chi Minh City. Located on Le Thanh Ton, refurbishment of the first Parkson Vietnam store will be implemented progressively, floor by floor. During the project, the Parkson store will remain partially open for business. The company says the […]

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Retail Asia06/11/2018

Struggling department store operator Parkson Retail Asia has hinted it may close further stores as it posted yet another loss. For the first quarter of the new trading year, the Singapore headquartered company lost S$11.1 million, a slight improvement on the $12.9 million of a year ago. Last full trading year, the company lost $40.1 […]

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Retail Asia11/10/2018

Malaysia’s Parkson is apparently shutting down its fifth mall in Vietnam after suffering serious losses in recent years. Although the company has not made any official announcement, its name-board has been taken down from the Cantavil An Phu builing in Ho Chi Minh City’s District 2. If it shuts down, it would be the second […]

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Retail Asia27/08/2018

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Vietnam operations continue to be at the bleeding edge of Parkson Retail Asia’s ongoing losses. The company’s full-year results show declining same-store sales in its department stores in all four markets, with Vietnam the worst performing market. Sales fell 14.6 per cent in the last quarter and by 8.3 per cent over the full year. […]

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Retail Asia25/05/2018

Parkson Retail China has been able to parlay a string of modest first-quarter increases into an 181.7 per cent boost in operating profit. Same-store sales for the quarter, to the end of March, grew by 1.7 per cent; total operating revenues rose 2.9 per cent to RMB1.2 billion (US$187.7 million) while merchandise gross margin increased […]

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Retail Asia28/02/2018

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Despite slight revenue growth, Parkson Holdings’ retailing division ended its second quarter with a loss. For the first half, its interim financial report shows there was 3 per cent growth in revenue to RM1.9 billion (US$485.9 million) with an operating loss of RM9 million. For the second quarter, to the end of December, the department […]

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Retail Asia16/11/2017

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Parkson Retail Asia has had a lacklustre start to its fiscal year, its unaudited first-quarter figures show. Gross sales proceeds fell by 8.3 per cent year on year to S$202.4 million (US$148.9 million) for the quarter. Total merchandise sales generated $198.1 million, with concessionaire sales contributing 74.2 per cent, down from 77.9 per cent for […]

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Retail Asia13/11/2017

Parkson Retail Asia Limited (O9E.SI)’s moving averages reveal that the Tenkan line of the shares are below the Kijun-Sen line, indicating potential downward momentum building in the bearish chart. Parkson Retail Asia Limited moved -0.001 in the most recent session and touched 0.078 on a recent tick. The Tenkan-Sen is generally used in combination with the Kijun-Sen to […]

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Retail Asia21/08/2017

With a rebound in same-store sales, lifestyle retailer Parkson Retail Group had a 1.9 per cent increase in half-year operating revenue to RMB2.3 billion (US$ 344.9 million). The figures reflect the impact of the transformation plan under which the company is redefining its image and spinning categories off into stand-alone concepts. Second-quarter same-store sales grew […]

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Retail Asia14/07/2017

Parkson China’s first department store, which opened on Beijing’s Fuxingmen Rd in 1994, is the brand’s last remaining outlet in the capital as slumping sales force it to close outlets across the country. Parkson closed its Longhu Beijing Changying Street department store and similar outlets in the cities of Hefei and Zhengzhou at the end […]

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Retail Asia12/04/2017

MyTown Shopping Centre has opened in the Kuala Lumpur CBD as a joint development by Boustead Holdings and retail banker Ikano. It features 1.6 million sqft (148,644 sqm) of retail space (more than 400 stores), an alfresco dining area and a park. Anchor tenants include the biggest Ikea and Zara stores in Malaysia, Malaysia’s first […]

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Retail Asia20/03/2017

Thai ambassador to Cambodia Nuttavudh Photisaro says Central representatives have already studied the proposed site, not yet revealed publicly. “By investing in a shopping mall, they hope the trade volume between the two countries will increase,” says Nuttavudh. CBRE Cambodia associate director Ann Sothida says shopping malls still have a chance to grow in Cambodia […]

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Retail Asia17/02/2017

Parkson Retail Asia has flipped from a S$2.9 million (US$2 million) net profit a year ago to a net loss of $2.23 million for its second quarter. This is despite a 7.4 per cent year-on-year rise in revenue to $111.14 million, with Parkson attributing its red ink to weak same-store sales growth as well as […]

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