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Tag: period

  • Giordano Reports Q3 Sales Dip Despite Yearly Growth; E-commerce Revenue Soars By 16.5%

    Giordano Reports Q3 Sales Dip Despite Yearly Growth; E-commerce Revenue Soars By 16.5%

    Hong Kong-based fashion retail giant, Giordano, has experienced a decrease in sales for the third quarter of the year, despite an overall positive performance for the year so far.

    Q3 Performance

    The retailer’s third-quarter revenue, ending on September 30, dropped by 1.4 per cent to HK$894 million, equivalent to US$115 million. Sales declined by 8.5 per cent in Southeast Asia and Australia, remained unchanged in Greater China, but impressively jumped by 11.6 per cent in the Gulf Cooperation Council.

    Giordano’s e-commerce revenue continued to demonstrate strong progress with an increase of 16.5 per cent, even as offline sales fell by 4.9 per cent. Same-store sales also experienced a slight dip, declining by 0.5 per cent.

    Strategic Initiatives

    Giordano’s management shared that the company has been actively shifting towards high-growth channels and markets as part of its strategic initiatives. They added, “With a focused approach, we are successfully navigating a period of reset with a view to delivering long-term sustainable growth in line with our strategic vision.”

    Performance for the First Nine Months

    The retailer’s performance for the first nine months of the year remained in the green, with a modest revenue increase of 0.6 per cent.

    Despite challenges like unprecedented adverse weather in Greater China, the company’s core business preserved stability with a 0.4 per cent growth in the quarter and a 2.7 per cent growth for the year so far.

    The quarter ended with Giordano operating 1,627 stores, marking a net reduction of 122 locations since the start of the year. As part of their inventory optimization plans, inventory also declined by 2.9 per cent year-to-date.

    Questions & Answers

    What is Giordano’s percentage of sales decline in the third quarter?
    Sales declined by 1.4 per cent, equivalent to HK$894 million, or US$115 million.

    How has Giordano’s e-commerce revenue been performing?
    Giordano’s e-commerce revenue demonstrated strong progress with an increase of 16.5 per cent.

    What is the net change in Giordano’s store count since the beginning of the year?
    Giordano net reduced its store count by 122, ending the quarter with 1,627 stores.

  • Lovekins commits to helping end period poverty

    Lovekins commits to helping end period poverty

    Lovekins has partnered with women’s charity Share the Dignity to help end period poverty and the social stigma associated with periods in the run-up to World Menstrual Health Day.

    Every dollar spent on sanitary pads purchased from the Lovekins website will be matched with a donation to Share the Dignity.

    Once the brand reaches $10,000 in donations, a digital vending machine that dispenses free sanitary napkins will be installed within a disadvantaged community, ensuring accessibility of pads and tampons to those who need them.

    In addition, the brand will give away 100 packs of sanitary pads to every school in Australia via a social-media campaign in hopes of reducing the number of girls missing their class in school because of inaccessibility to period care resources.

    “World Menstrual Health Day is the perfect opportunity to start a conversation about period poverty and reduce the stigma,” said Amanda Essery, founder and CEO of Lovekins.

    “The more we talk about periods, the less taboo they will be. By working together, we can make a significant change for generations to come.”

    Period poverty is a global problem that affects women fleeing domestic violence, homelessness, or low socio-economic backgrounds. The inaccessibility to period products often interrupts the education of girls who are forced to miss their school.

    “Our brand mission is to nurture and protect women, mothers and babies with products they can trust. Through this partnership, we want to carry the message on by supporting women in need and empowering them, so their periods don’t limit their opportunity to access education, employment or live a happy and fulfilled life,” she added.

    Founder and MD of Share the Dignity, Rochelle Courtenay, said she’s excited to have such a progressive brand as Lovekins support their mission.

    “When we work together, we amplify our voices to make a difference for those in need,” said Courtenay.

    “I’m excited to work together to ensure that every woman, every girl, everywhere has access to period products to manage their period with the dignity they deserve.”