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Retail Asia02/11/2022

Leading steelmakers in the country have reported the biggest-ever Q3 losses in amidst low sales, rapidly falling prices, and high inventories. The nation’s biggest steelmaker, Hoa Phat, incurred a negative after-tax return of VND1.79 trillion ($72 million), the first loss it has reported in 13 years. This is also the third consecutive quarter that its […]

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Retail Asia29/09/2021

AirAsia X—the long-haul affiliate of Malaysian tycoon Tony Fernandes’ AirAsia Group—reported its biggest-ever quarterly loss as travel restrictions aimed at curbing the further spread of Covid-19 grounded the budget carrier’s planes. The airline posted a net loss of 24.6 billion ringgit ($5.9 billion) in the three months ended June 30 following the suspension of flights since […]

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Retail Asia01/04/2021

AirAsia Group is expected to report another huge loss in its 2021 earnings on prolonged closure of borders and a slower-than-expected recovery in tourism. Affin Hwang Capital said AirAsia had posted a record headline net loss of RM2.44 billion in the fourth quarter (Q4) of 2020. This was due to weak revenue, large impairment charges […]

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Retail Asia18/09/2020

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Zara-owner Inditex posted a net loss of US$229 million during the six months to 31 July, after a successful second quarter largely helped mitigate a disastrous start to the year. The first three months suffered a $481 million loss due to the sudden impact of the Covid-19 pandemic, while the second quarter rebounded to a […]

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Retail Asia28/08/2020

AirAsia X Bhd’s net loss for the second quarter ended June 30, 2020 (2QFY20) widened to RM305.24 million, 47.4% more than the RM207.11 million it recorded a year ago as the airline bore the full brunt of travel restrictions implemented to curb the Covid-19 pandemic. AAX sees more turbulence ahead due to uncertainties surrounding the […]

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Retail Asia08/08/2019

A Ford plant that produced transmissions in southwestern France shut down for good on Wednesday after the carmaker brushed aside efforts save some operations at the facility that had employed up to 3,600 people. The factory in Blanquefort, outside Bordeaux, was scheduled to close on July 31 but “people arrived this morning and were told to […]

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Retail Asia22/07/2019

Trimmed-down Global Brands Group has reported another loss but says its restructuring is on track to be completed next year. “Global Brands has entered into a new chapter as a nimble and more focused organization,” said CEO Rick Darling. “The changes we are implementing have put Global Brands in a strong position. We are already […]

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Retail Asia01/03/2019

Fashion retailer Esprit shuttered 91 stores in the six months to December and recorded a loss of HK$1.773 billion (US$225.876 million). While the loss is massive, it is within the estimates Esprit provided at an investor presentation last November when it unveiled its rescue strategy for the embattled Hong Kong-listed brand. The 91 stores closed during […]

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Retail Asia25/02/2019

AirAsia X Bhd suffered a net loss of RM99.27 million in the fourth quarter ended Dec 31, 2018 compared with a net profit of RM84.42 million a year ago due to higher fuel prices. In a filing with Bursa Malaysia, the airline reported an increase in average fuel price to US$89 per barrel during the […]

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Retail Asia21/02/2019

Air France-KLM, which was badly hit last year by strikes and management upheaval, reported on Wednesday that its annual net profits rose by 150% to 409 million euros (US$463 million). “The strong performance of our front-line teams and continued cost control helped partly offset the impact of strikes at Air France in the first half […]

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Retail Asia21/02/2019

Hong Kong flag carrier Cathay Pacific said on Wednesday it is expected to have swung back to profit in 2018, ending two successive losses as it embarks on a massive overhaul. The recovery also came in a year that saw it suffer an embarrassing data breach that dented its reputation and could could prove costly. […]

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Retail Asia13/02/2019

Takeover target Courts Asia had a forgettable third quarter, reporting a net loss of S$171,000 – a stark contrast to the $3.51 million profit for the same period a year earlier. The company blamed lower sales and gross-profit margins together with higher income tax expenses. Group sales fell 6.2 per cent to $175.3 million, largely due […]

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Retail Asia11/02/2019

Habeco’s profits fell by 23 percent last year to VND667 billion ($28.71 million), the fourth straight year of decline. Hanoi Beer Alcohol and Beverage Corp, as it is formally known, one of Vietnam’s biggest brewers, also reported a 5 percent fall in revenues to VND9.4 trillion ($404.67 million). There was a sharp increase in operating expenses, […]

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Retail Asia04/02/2019

Korean Air Lines said Tuesday it swung to a net loss in 2018 from a year earlier due to hefty foreign-exchange losses. The Korean flag carrier posted a net loss of 167.59 billion won ($150 million), after a net profit of 801.9 billion won a year earlier. As the dollar rose to 1,118.1 won at […]

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Retail Asia04/02/2019

SK Innovation, Korea’s largest oil refiner, said Thursday that its earnings sank 21 percent last year on lower oil prices and less demand for petrochemical goods. Net profit reached 1.69 trillion won last year, compared with a profit of 2.15 trillion won a year earlier, the company said in a regulatory filing. Operating income dropped […]

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Retail Asia24/01/2019

Korea’s corporate watchdog claimed Apple Korea has bargaining power over local mobile carriers and that it has reaped unfair profits from them in a statement Monday. According to the Fair Trade Commission (FTC), experts called in by the antitrust body said Apple Korea exploited its market position to place part of its advertising costs on […]

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Retail Asia23/01/2019

Nation’s leading liquor maker Halico has reported a loss of VND75 billion ($3.22 million) for 2018. With Vietnamese consumers moving towards foreign brands, the 120-year-old liquor maker, in which Vietnam’s second biggest brewery Habeco has 54.29 percent ownership and British multinational Diageo holds a 45.5 percent stake, Halico has reported losses for the fourth year […]

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Retail Asia18/01/2019

Agifish, a major seafood company, reported a second straight year of losses in 2018 as both exports and domestic sales fell. The recently released 2018 audited financial report of one of Vietnam’s 10 largest seafood export companies puts its loss at VND178 billion ($7.66 million). The An Giang Fisheries Import Export Joint Stock Company, to […]

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Retail Asia17/01/2019

Bossini International has warned the group is expected to record a loss attributable to owners of between HK$23 million and $28 million (US$2.93 million to $3.6 million) for the six months to December – roughly double the loss of the same period last year. Chairman Bess Tsin said in a stock exchange filing that the […]

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Retail Asia10/01/2019

Samsung Electronics announced sharply lower earnings for the fourth quarter, an earnings “shock” that suggested that the “supercycle” in the global semiconductor market is nearing an end. Preliminary 2018 performance numbers released Tuesday predicted the local IT giant’s operating profit between October and December of last year would be 10.8 trillion won ($9.6 billion), down […]

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