Shoe retailer Daphne International Holdings Ltd. (00210.HK) said in a regulatory filing late Wednesday same-store sales at its core brands business declined 18.1 percent in the third quarter from a year earlier. The weak performance was attributed to the extremely hot weather in July and August, diminished foot traffic to street stores, keen competition and the underlying soft consumer sentiment, the company said. Combined same-store sales for the first three quarters fell 12.2 percent from a year ago. The company will adopt a new retail management system for one of its core brands in the fourth quarter to improve sales productivity and inventory management, it said.
– Contact HKEJ at [email protected]