Giordano International ( (GRDZF) ) has released its Q4 earnings. Here is a breakdown of the information Giordano International presented to its investors.
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Giordano International Limited, a leading apparel retailer, reported a 1.2% increase in revenue for 2024, driven by strong performances in Southeast Asia, Australia, and the Gulf Cooperation Council regions, alongside a robust online business in Mainland China. Despite this growth, the company faced a decline in net profit to HK$216 million due to non-recurring expenses and challenges in Greater China. The gross profit margin decreased to 57.0%, influenced by a shift towards online sales and strategic inventory clearance. Operating expenses rose to 48.7% of revenue, reflecting costs associated with the ‘Beyond Boundaries’ transformation strategy. Looking forward, Giordano remains committed to its strategic initiatives, aiming for growth and improved profitability as it embarks on its five-year plan.