Aeon Stores Hong Kong has recorded record half-year revenue of HK$4.93 billion ($US628 million) in sales.
The figure represents a year-on-year increase of 6.7 per cent. The group’s gross profit margin rose by 0.2 percentage points to 30.7 per cent during the period.
In its report for the June 30 half year, Aeon Stores Hong Kong said the development of new retail store types and O2O e-commerce has intensified competition in the retail market and presented challenges to the group. However, the diversification and personalisation of consumers’ lifestyles has afforded many opportunities.
During the period, the group continued to actively carry out internal restructuring and cost control, focusing on improving customer experience and operational standards, while at the same time accelerating digital marketing activities to cement its foundation for supporting future growth.
To address the intensifying competition in the market, Aeon launched a new customer relationship management system last year, introducing big data analysis to strengthen its sales and marketing platform.
Aeon’s operations in Mainland China reported a loss of HK$13.7 million during the period due to costs associated with cultivating newly-opened stores and the closure of others.
The expenses contributed to an overall loss attributable to owners of the company of HK$50.48 million ($6.43 million).
Aeon currently operates 32 stores in southern China.