Singapore retailers find coal in stockings

A survey of 30 brands and three department stores in the Orchard area showed that sales grew by a conservative 5 percent this month compared with levels achieved in the corresponding period last year.

In contrast, festive shopping last year grew 10 percent over levels seen the year before. Performance varied across the board as well, said Steven Goh, the executive director of the Orchard Road Business Association (Orba), which conducted the survey.

“Some brands did better than others, but the growth is within our expectations,” he noted.

The survey covered popular brands that included Topshop and Adidas, but Goh declined to give a performance breakdown for individual brands.

Those that saw slim pickings included the Jay Gee Melwani Group, whose takings this month for its fashion brands — which include T.M. Lewin, Levi's, Dockers and New Look — across more than 100 outlets were 10-percent lower than they had been last year.

This was despite discounts of more than 20 percent at some of its outlets for three days from Christmas Eve.

Group managing director R. Dhinakaran said the introduction of new rivals such as Abercrombie & Fitch and H&M had dampened sales for the company.

It was a similar story at heartland malls, where some retailers said business fell by as much as 30 percent from last year's levels.

1|2|Next Page>>

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Singapore likely in recession as GDP data shows slower growth: analysts

NEXT ARTICLE
China factory activity hits 19-month high: HSBC

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit