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Category: General

Retail Asia06/04/2020
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General

Harvey Norman executives take pay cut as crisis worsens

3min0
Harvey Norman has told shareholders the business will not pay an interim dividend and that its executive team and non-directors will forgo 20 percent of their salaries and director’s fees for three months. “In the present environment, the board believes that preserving cash is the most prudent course of action to protect shareholder value,” company […]
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Retail Asia06/04/2020
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General

AirAsia seeking govt loan

6min0
Airasia may have enough cash to last them for most of 2020 but it is currently seeking out a loan from the Malaysian government to cushion the impact from the challenging economic environment. The low-cost carrier’s chief executive officer Tan Sri Tony Fernandes(pic) said there was no need for bailouts and what most airlines were […]
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Retail Asia06/04/2020
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General

Aeon to open mall in Myanmar by 2023

1min0
Japan’s largest retailer Aeon is to open a shopping mall in Yangon, Myanmar’s largest city, in 2023. The Japanese retailer will partner with Myanmar conglomerate Shwe Taung Group to set up a joint venture in the country this year. The new Aeon shopping mall will target Myanmar’s middle class, which is predicted to increase significantly […]
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Retail Asia03/04/2020
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General

South Korean department stores restore sales campaigns

2min0
South Korean department stores will no longer postpone their sales programs due to the coronavirus pandemic. In a move analysts say is aimed at restoring turnover as the coronavirus essentially comes under control in the country, stores are looking to restore volumes which plunged last month. Top department stores are under pressure to clear seasonal […]
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Retail Asia03/04/2020
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General

Don Don Donki opens second store in Thailand

3min0
Amidst the Covid-19 outbreak, Japanese discount-variety store Don Don Donki has continued ahead with the opening of its latest branch in Bangkok, Thailand as part of its international expansion. The Japanese retailer, known at home as Don Quixote, entered Thailand in February last year, opening a Donki Mall in the expatriate haven of Thonglor. The […]
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Retail Asia02/04/2020
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General

Cebu Pacific net income doubled in 2019

1min0
Cebu Pacific on Wednesday reported a 132.6-percent jump in net income for 2019, before the coronavirus pandemic grounded world travel and plunged airlines into financial turmoil. The Philippines’ largest airline posted net income of P9.123 billion last year from nearly P4 billion in the previous year, according to a stock exchange filing. Passenger revenue grew […]
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Retail Asia02/04/2020
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General

Hong Kong retail sales plunge 44 per cent in February

3min0
February saw a catastrophic collapse in Hong Kong retail sales, which slumped a massive 44 percent year on year, the greatest fall since records were first taken. The unprecedented collapse followed a 21.5-per-cent decline in January and a 19.4-per-cent fall in December. For the first two months of this year, Hong Kong retail sales felt […]
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Retail Asia02/04/2020
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General

Two more AirAsia carriers suspend operations from April

3min0
Indonesia AirAsia and Thai AirAsia are the latest among the AirAsia Group carriers to suspend operations, leaving just AirAsia Japan in service. Indonesia AirAsia will suspend domestic flights until 21 April and international flights until 17 May. Thai AirAsia will halt all domestic services during the month of April, having suspended international flights since 22 March. Indonesia AirAsia’s grounding will not have a significant […]
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Retail Asia02/04/2020
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General

Panic buying underpins Japanese retail sales growth

1min0
Japanese retail sales have recorded a distinct uptick as consumers enter a panic-buying mode in response to the coronavirus outbreak, according to Nikkei Asian Review. According to the Ministry of Economy, Trade and Industry, Japanese retail sales rose 1.7 percent year on year in February. Pharmacy sales showed the highest rate of growth, surging 18.9 […]
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Retail Asia01/04/2020
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General

AirAsia Indonesia suspends all flights starting April 1

2min0
Amid the alarming spread of COVID-19 across the country, low-cost carrier AirAsia Indonesia announced on Saturday that it would suspend all its QZ flight code services starting April 1. The carrier’s domestic and international routes will be temporarily suspended until April 21 and May 17, respectively. “AirAsia Indonesia will continue to monitor the development of […]
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Retail Asia01/04/2020
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General

Thai AirAsia X Schedules Airbus A330 Charter Flights To Croatia

5min0
Bangkok-based long-haul airline Thai AirAsia X has scheduled four charter flights between Bangkok and the Croatian capital Zagreb in May and October. However, seeing that AirAsia recently announced it is suspending almost all flight operations, will these actually go ahead? AirAsia is temporarily parking almost all of its fleet as a consequence of severe travel restrictions imposed […]
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Retail Asia01/04/2020
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General

Metro Retail Stores show strong profit growth

2min0
Metro Retail Stores Group in the Philippines has reported a 21.5-per-cent growth in income to US$20.80 million (Php1.06 billion) last year. The growth was driven mainly by an 11.3-per-cent increase in sales to $722.31 million (Php36.8 billion) with operating expenses rising by a lesser rate of 9.3 per cent. Additional insurance recoveries relating to a […]
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