China Dongxiang (Group) Co (HK:3818) has released an update.
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China Dongxiang reported a decline in retail performance for its Kappa-branded stores, with sales dropping by mid-to-high single digits for the first half of FY2024/25. Same-store sales also faced a significant decrease, ranging from low 10% to 20% year-on-year for the second quarter. The company saw a net reduction in its number of stores, closing 11 outlets by the end of September 2024.
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