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Tag: Sales

  • South Korean retail sales surged during Holidays

    South Korean retail sales surged during Holidays

    The unprecedented extension of the Japanese Golden Week holiday to 10 days has seen a surge in tourists visiting South Korea.

    The holiday was extended to mark the enthronement of Crown Prince Naruhito from the usual April 29 to May 5 period.

    Duty free businesses saw big jumps in sales during the period compared to the previous year. Lotte Duty Free in Sogong-dong saw a 45 per cent sales increase, while Shinsegae Duty Free in Myeongdong saw an 80 per cent year-on-year increase.

    Hotels in the main commercial districts of Seoul also saw double-digit occupancy boosts during the period above Golden Week figures for last year.

    Tourism from China was also up 25 per cent during the period, although this rise was lower than in the first four months of this year.

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  • Indonesian Retail Sales Down Last Month

    Indonesian Retail Sales Down Last Month

    Indonesian retail sales grew by 10.1 percent in March following a 9.1 percent increase in February, according to central bank survey data.

    The strong March performance was underpinned by sales of apparel along with automotive parts and accessories.

    However, the bank’s survey predicted that Indonesian retail sales growth will rise by a more modest 5.7 percent in April, the same figure it projects for the full year.

  • Retail sales rise at slower Pace Last Month

    Retail sales rise at slower Pace Last Month

    Retail spending rose 0.3 percent in March in seasonally adjusted terms, according to the latest trade figures from the Australian Bureau of Statistics (ABS), beating market expectations of 0.2 percent growth.

    This is a slowdown from February’s upwardly-revised increase in retail sales of 0.9 percent month on month, but March spending was still up 3.5 percent compared to the same time last year, representing the fastest year-on-year increase since October 2018.

    Monthly sales growth was driven by spending at cafes, restaurants and takeaway food services (up 1.4 percent in seasonally adjusted terms) and clothing, footwear and accessories stores (up 1.2 percent in seasonally adjusted terms).

    Spending on food retailing, including supermarkets, was up 0.4 percent and spending on households goods was up 0.2 percent in seasonally adjusted terms, while spending on department stores was down 1.5 percent and spending on other retailing, including pharmacies and newsagents, was down 0.4 percent in seasonally adjusted terms.

    By state and territory, spending was up across the board in March, excluding Western Australia, where retail sales fell 0.7 percent in seasonally adjusted terms. Victoria and the Northern Territory each saw a 0.7 percent increase, Queensland saw 0.6 percent increase, followed by Tasmania, up 0.4 percent, New South Wales, up 0.2 percent, and South Australia, up 0.1 percent, in seasonally adjusted terms.

    Online retail sales were also up in the month, with NAB’s Online Retail Sales Index showing a 1.7 percent increase from February after the index recorded the sharpest ever drop in monthly online sales.

    NAB measures e-commerce sales as representing around 9 percent of total retail turnover in Australia, while the ABS pegs it at around 5.7 percent.

    Quarterly spending shrinks for the first time since 2012

    On a quarterly basis, however, retail turnover in the three months to March fell 0.1 percent in seasonally adjusted volume terms, following a flat December quarter. This represents the first quarter of negative growth since the September quarter of 2012.

    The fall was led by household goods retailing, according to the ABS, which fell 0.6 percent, and department stores, which fell 1.2 percent. The other categories all rose in seasonally adjusted volume terms for the quarter.

    According to Westpac analyst Matthew Hassan, the figures show that retail sales growth in the month was driven by price increases rather than volume.

    “The undershoot vs expectations was due to a stronger than expected rise in retail prices which rose, up +0.8%qtr vs +0.7%qtr in Q4,” he said.

    “The sub-category detail shows a particularly big rise in food prices (+1.4%qtr vs 1.2% in Q4). Non-food retail prices posted a 0.2%qtr gain.”

    According to Hassan, broader economic headwinds are still hampering consumer spending.

    “Overall the March retail report points to downside risks to the wider consumer spending estimates in the March quarter GDP, the headwinds that emerged in the second half of last year clearly carrying into 2019,” he said.

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  • Toyota Sees Smaller-Than-Expected Profit Rise This Year

    Toyota Sees Smaller-Than-Expected Profit Rise This Year

    Toyota Motor forecast on Wednesday a 3.3 percent rise in operating profit for the current year due to cost reduction measures and changes to its depreciation methods.

    Japan’s largest automaker expects profit to rise to 2.55 trillion yen ($23.20 billion) in the year to March 2020, slightly lower than the 2.61 trillion yen average of 23 analyst estimates compiled by Refinitiv.

    Operating profit was 2.47 trillion yen for the year ended March, below the average 2.51 trillion yen estimate of analysts.

    The automaker also forecasts global group retail sales of 10.74 million vehicles for the current year, compared with 10.6 million in the previous year.

    Toyota’s profit forecast is based on the assumption that the yen will trade around 110 to the U.S. dollar in the current financial year, compared with 111 yen in the year just ended.

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  • E-commerce to reach tipping point by 2030

    E-commerce to reach tipping point by 2030

    Almost half (49 percent) of Australian businesses expect online operations to reach parity with bricks-and-mortar retail sales by 2030, according to new research by Australia Post. Rebecca Burrows, Australia Post general manager of segment development and marketing, noted that consumer habits have changed significantly over the past few years.

    “People want an in-store experience, but in the comfort of their own living room – they want to see, touch and try,” she said.

    “Leading retailers are also embracing mobile commerce and voice-activated shopping. It is those in tune with customers and willing to embrace the latest online technology trends that will have the winning strategy.”

    Burrow noted that technology trends, such as augmented reality, artificial intelligence-driven personalization, and biometric payments, are beginning to bridge the gap between online and offline retail, and are shaping the way customers shop.

    Changing consumer trends are not simply relegated to the use of technology, however, with the rise of subscription service also having made a significant impact on the way a retailer offers its service to customers.

    According to a recent survey by Harris Poll, on behalf of subscription management platform provider Zuora, Australians now average 2. 5 subscription services – with Zuora vice-president Iman Ghosdosi calling it the “end of ownership.”

    Fashion-tech company GlamCorner tapped into this phenomenon last year, with the launch of a monthly subscription box that gives customers access to three pieces of designer clothing each month for formal occasions, workwear or everyday wear.

    “The service is growing at an exponential rate,” GlamCorner co-founder and CEO Dean Jones said, “contributing significantly to the 30 tonnes of clothing we process each month.”

    “As a result, our customers are telling us their wardrobes are shrinking, while they still have a fresh new look every day.”

    Australia Post surveyed almost 1000 small to medium sized Australian business across retail, manufacturing, logistics, financial services, education, health, and utilities.

  • iPhone sales declined in every part of the World

    iPhone sales declined in every part of the World

    As Apple confirmed in its two most recent earnings calls, iPhone sales have been consistently down year-on-year since October. The Cupertino giant blamed this primarily on weak demand in China, but recent SEC filings show this isn’t the full story.

    Apple’s recent Form 10-Q filing with the SEC (US Securities and Exchange Commission) contains a detailed breakdown of performance over the past six months by both product category and geographical region.

    iPhone sales, as mentioned above, have been down for the past six months. The Greater China region which includes China, Hong Kong, and Taiwan has undoubtedly impacted Apple’s total shipments the most, but in actual fact, the company has been experiencing “lower iPhone unit sales in all the reportable geographical segments” since October. This has resulted in year-on-year revenue declines for all regions except the Americas (North and South America), with Greater China being the most affected followed by Europe and Japan.

    In almost every geographical segment, Apple’s lower iPhone shipments were partially offset by improved performance in other product categories. For example, in Europe, the company’s Services and Wearables businesses grew significantly, while over in Japan Services and iPad were key. In the Americas, however, strong Services and Wearables performance managed to entirely offset weak iPhone shipments and push year-on-year growth to a decent 4%.

    Taking a look at the company’s performance over the past three months rather than six, it seems as though Apple’s efforts in certain regions are finally beginning to pay off. Other markets, however, seem to be in decline.

    As mentioned by Apple in its recent earnings call, the company noticed improved demand in Greater China towards the end of the quarter. It didn’t elaborate on the matter, but it seems to have translated into slightly better financial results for the brand as, for the three months ending March 31st, the year-on-year sales decline was 22%. This is still pretty major, but it represents an improvement over the -25% average Apple has experienced in the region since October.

    Another region that has improved in Japan. Over the past six months, Apple’s sales have dropped an average of 2%, but throughout the first three months of 2019 sales were actually up 1%. Similarly, the Americas continued to experience growth throughout the past quarter.

    Moving on to Europe and the Rest of Asia Pacific, these two geographical segments didn’t fare as well. Since October, Apple has experienced an average revenue decline in these regions of 4% and 2% respectively. But during the first quarter of the year, these numbers nosedived to 6% and 9% due primarily to even lower iPhone demand.

    Regarding Apple’s performance throughout the rest of 2019, the Cupertino giant now appears confident that it can improve the situation in Greater China and ultimately slow down its year-on-year decline. Nevertheless, it’s still forecasting a drop for this current quarter and, with business in Europe and the Rest of Asia Pacific seemingly struggling, it’ll remain to be seen how Apple handles the situation.

    Towards the end of 2019, Apple’s next-gen iPhones should provide a decent boost to demand. However, analyst Ming-Chi Kuo recently predicted almost no growth. Instead, Kuo expects iPhone sales to pick up towards the end of 2020 as a result of the first 5G models which should feature modems from both Samsung and Qualcomm.

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  • HTC’s April Revenue Figures Still Low Despite Efforts

    HTC’s April Revenue Figures Still Low Despite Efforts

    HTC had a pretty rough start to 2019 with record-low revenue numbers in both January and February. Nevertheless, things then started to look more positive in March as HTC’s sales increased dramatically thanks to the popularity of its VR headsets. But as revealed by the company’s latest figures, this resurgence was short-lived.

    Between April 1st and April 30th, HTC generated a total of NT$0.59 billion ($19.07 billion) in revenue. It’s unclear how this figure is split between smartphone and VR sales, but it, unfortunately, represents yet another record-low for the HTC One creators. Comparing the results to previous ones, April’s numbers translate into a big 54.85% month-on-month drop from the NT$1.31 billion ($42.46 billion) it generated in March and also amount to an even bigger 71.77% year-on-year decline.

    Way back in December, HTC stated that its focus for 2019 would be turning a profit and regaining its market share in the smartphone segment. So far, though, the Taiwan-based company has done little to achieve this with zero launches since December and no devices on the horizon. HTC has, however, released the Vive Focus Plus VR headset and launched its Viveport Infinity subscription service.

    Looking to the second half of 2019, HTC is largely expected to announce its first 5G flagship smartphone. Presumably, this will be available to purchase through multiple carriers and will provide a decent boost to the company’s finances. Additionally, rumor has it HTC is negotiating a brand licensing deal in India which could prove beneficial too.

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  • Hugo Boss in Asia Down in latest Quarter

    Hugo Boss in Asia Down in latest Quarter

    Sales by Hugo Boss in Asia rose by 4 percent in the latest quarter.

    However, the German fashion company observed that double-digit growth in Mainland China overshadowed a “tougher” market environment in Hong Kong and Macau.

    Worldwide sales rose by 4 percent, a rate tempered by an 8 percent decline in currency-adjusted terms in the US market.

    First-quarter operating profit fell 22 percent to €55 million on sales of €664 million.

    While Hugo Boss’ share price has slumped by 19 percent over the past year, the company says its performance has been impacted by reorganization costs, higher marketing spends and the strength of the dollar.

    Finance chief Yves Mueller said the revamp of key stores should boost the company’s performance with New York and Tokyo flagships already performing well since their reopening and renovations of others in Paris and Chicago soon to be completed.

    “Store optimizations will drive performance,” he told an analysts briefing.

    A shift in focus to a younger target demographic is also paying dividends for Hugo Boss. Sales of its Hugo brand of casual wear rose in the double digits, compensating for flat sales of the core Boss brand and a marginal decline in business apparel.

    First-quarter online sales rose by 26 percent and the company plans to continue to invest in digitalization.

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  • Little Dip in Hong Kong Retail Sales Last Month

    Little Dip in Hong Kong Retail Sales Last Month

    Hong Kong retail sales in March slipped by a negligible 0.2 percent, a slower decline than the 1.6 percent of January and February combined.

    But figures from the Census and Statistics Department show first-quarter retail sales were still down 1.2 percent year on year.

    After netting out the effect of price changes over the same period, the provisional estimate of the volume of retail sales in March decreased by 0.8 percent compared with a year earlier, and for the first quarter by 1.6 per cent.

    March’s decline was driven largely by the watches, jewelry and valuable gifts sector, which fell by 2.6 percent, and apparel, down by 2.3 percent. Sales of electronic goods fell by 15.6 per cent, of optical shops by 5.7 per cent and of books and stationery by 2.5 percent.

    Conversely, sales by supermarkets increased 3.3 percent, of medicines and cosmetics by 2.5 percent, in department stores by 5 percent, and of food, liquor and tobacco by 3.6 per cent.

    Footwear and accessories sales rose by 7.1 percent, furniture by 4.3 percent and Chinese drugs and herbs by 1 percent.

    A government spokesman said the decline in Hong Kong retail sales in March “reflected the cautious consumption sentiment amid various external uncertainties”.

    He said that looking forward, retail sales business will likely continue to be affected by various external uncertainties in the near term, but the largely stable labor market and the sustained growth in inbound tourism should provide some support.

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  • Global smartphone sales still in freefall

    Global smartphone sales still in freefall

    The global smartphone market remains in “freefall”, having experienced its sixth consecutive quarter of declining shipments during the first quarter, according to Canalys.

    Total unit shipments fell 6.8% year-on-year to 313.9 million during the quarter, the lowest result in nearly five years, the research firm said.

    Apple was the hardest hit of the big smartphone vendors, with iPhone shipments dropping 23.2% year-on-year to 40.2 million units, which marked the largest single quarter decline in the history of the iPhone.

    But market leader Samsung also experienced a 10% decline in shipments to 71.5 million.

    By contrast, Huawei had a strong performance during the quarter, with shipments growing 50.2% during the first quarter to 59.1 million.

    Huawei has publicly set its sights on overtaking Samsung as the world’s top smartphone vendor by unit shipments by 2020, but it will not be an easy battle, the research firm said, with its chance of success hinging on its ability to take customers in the low to midrange price bands.

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  • Honda Car India’s Sales Grow By 23% In April

    Honda Car India’s Sales Grow By 23% In April

    Honda Cars India registered monthly domestic sales of 11,272 units in April 2019 as against 9,143 units in April 2018 registering a growth of 23 per cent. The company has seen a strong sales growth thanks to the new-gen Amaze as also the WR-V. The company even exported 220 units in April 2019.

    Rajesh Goel, Senior Vice President and Director, Sales and Marketing, Honda Cars India Ltd said, “HCIL’s April sales growth is primarily due to lower base effect, as there was no Amaze in corresponding month last year during model runout. The ongoing elections and overall subdued market sentiment continues to affect the sales momentum. Going forward, the industry is heading towards a tougher year impacting sales due to volatility in fuel prices, increase in car prices owing to new regulations and stricter inventory control for smooth switchover to BS6 regime by year end.”

    The company plans to bring more cars to India in 2019. In fact the company had already announced that there would be 6 new models in three years starting 2018. The company has already launched 3 new models in the country in the form of the new-gen Amaze, CR-V and even the Civic. We wait to see what more the company brings to the table.

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  • Toyota Domestic Sales Down By 22%

    Toyota Domestic Sales Down By 22%

    Toyota Kirloskar Motor sold a total of 10,112 units in the domestic market. The domestic sales saw a drop of 22 per cent which is a big drop compared to March 2019 which showed a growth of 7 per cent. The company exported 1301 units of the Etios series this month thus clocking a total of 11,413 units. Toyota Kirloskar Motor sold a total of 13037 units in the domestic market this month of April 2018. The company exported 834 units of the Etios series this month thus clocking a total of 13871 units.

    Toyota had even in March talked about the slow pace of the market and also the soaring prices of input costs and even the high insurance costs. Commenting on the sales performance, Mr. N. Raja, Deputy Managing Director, Toyota Kirloskar Motor said, “The industry is currently experiencing a slowdown due to uncertainty of upcoming general elections that looms over the market and this slow pace is expected to continue until the new government is formed. Consumer sentiments has currently dampened due to several factors like tight liquidity, high insurance, high costs.We hope the sales growth momentum to pick up in the upcoming months post election results are out.”

    Things are about to change though as the company is all set to launch the new Glanza Hatchback as also the rebadged version of the Vitara Brezza which will mark the company’s entry into the subcompact SUV segment. The company does say that the sales are likely to pick up post election results

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  • Gome profit warning issued to Shareholders

    Gome profit warning issued to Shareholders

    Another Gome profit warning has been issued as the company’s massive restructuring program continues.

    However the group says the reforms are beginning to show results and while a loss is anticipated for the latest quarter, it will be less than that of the previous period.

    According to a stock exchange filing, Gome says its loss attributable to owners is expected to range somewhere between RMB20 million (US$3 million) and RMB90 million ($13.4 million), as compared with a profit of RMB113 million for the corresponding period last year. The loss will be “significantly reduced” compared with the loss for the December quarter, the company said. Last full year, Gome lost RMB4.887 billion ($728 million).

    The group says it continued to actively pursue its transformation into an integrated home solution, service solution and supply chain provider based on its strategy of ‘Home • Living’. It expects the group’s total GMV for both online and offline to grow about 5 per cent year on year for the March quarter.

    Of that, GMV from Me Shop is expected to grow by more than 200 per cent, service GMV by more than 30 per cent, GMV from smart products by more than 50 per cent; and GMV from new businesses such as home solution and integration of kitchen cabinets with electrical appliances, by more than 100 per cent.

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  • Mobile phone sales drive wireless power market

    Mobile phone sales drive wireless power market

    It used to be that wireless charging was a nice-to-have but not got-to-have feature. These days, however, high-end smartphones have started to pick up on the interest and including this as standard feature.

    So when IHS Markit made its forecasts of the wireless power market, the analyst made it clear that mobile phones were an important factor driving the growth in this segment in 2018, comprising 71% of all receiver units shipped.

    The latest IHS Markit Wireless Power Market Tracker report put annual unit shipments of wirelessly charged mobile phones up by nearly 40% in 2018, reaching 300 million units, mainly driven by flagship models. The growth is expected to build in the mid-range smartphone category, as mobile phone companies plan to extend the adoption of wireless charging in that price band.

    Fortified by the growth in the sales of wirelessly charged mobile phones, global shipments of wireless power receivers and transmitters across all applications and product segments grew by 37% in 2018 to 600 million units, compared to the previous year. Global shipments will continue to grow to approximately 2.1 billion units in 2023, according to HIS Markit.

    “Wireless power technology continues to evolve rapidly, with reach expanding beyond smartphones to wider applications and product segments,” said Dinesh Kithany, wireless power and power supplies analyst, IHS Markit. “Wireless power technology is also undergoing further sub-segmentation, with regard to wider power levels and distance range.”

    He noted that wireless charging feature is used as a market differentiator to promote flagship models. “For example, Huawei and Samsung both included some cool innovations in their smartphones, with features like reverse-charging, wireless power-sharing, multi-device charging and the introduction of NFC wireless charging,” Kithany said.

    Opportunity outside mobile

    Beyond the mobile ecosystem – which also includes smartwatches, wireless earphones, and wearables – wireless charging is expanding into computing devices, smart home devices, IoT sensors, medical devices, small home appliances, power tools, robots and drones, augmented reality and virtual reality devices, gaming applications, industrial sector, 5G applications, electric vehicles and public infrastructure.

    “This wireless charging expansion creates opportunities for emerging wireless power solutions such as high-frequency-based resonant and radio-frequency, infrared and other uncoupled solutions to gain entry into the overall wireless power market,” Kithany said.

    According to IHS Markit, the smart home devices market is an especially promising segment for wireless power, because of the opportunities it presents to manufacturers and the benefits that accrue to consumers. Led by smart speakers, the wireless charging enabled smart home market is expected to grow to more than 100 million units in 2028.

    “Smart thermostats, air-control devices, electronic door locks, garage-door systems, intruder alarms, video cameras, video doorbells and other smart home devices will follow,” Kithany said. “The IoT sensors market alone is expected to add more than one billion wireless charging devices to this market in the next five years.”

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  • Puma profit Down

    Puma profit Down

    Sportswear giant’s sales and profit soar, with China one of its greatest performing markets.

    Puma is celebrating its “best quarter ever” as sales, gross margin and profit reached record levels.

    On a currency-adjusted basis sales reached €1.319 billion (US$1.476 billion) up 15.3 per cent, while on a reported basis, sales growth was 16.6 per cent.

    The German-headquarted sportswear retailer said the increase reflected continued growth in all regions and product divisions across the business.

    Gross profit margin improved by 80 basis points to 49 per cent and EBIT by 27 per cent to €143 million. Net earnings rose 40.1 per cent to €94.4 million in the quarter.

    “The first quarter of 2019 was the best quarter Puma has ever seen,” said Bjorn Gulden, Puma’s CEO. “Revenues … were the highest Puma has ever achieved in a quarter and the EBIT … was also the highest absolute EBIT Puma has ever achieved. So, it has been a very good start into the year.”

    By region, Asia-Pacific – driven by China – and the Americas contributed with double-digit sales growth, while sales in Europe, Middle East and Africa increased “solidly,” the company said.

    By division, apparel was the main growth driver in the quarter, followed by accessories and footwear. The categories running and training, teamsport, motorsport and golf on the performance side, as well as sportstyle all recorded strong growth.

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