HENDERSON INV's annual loss expanded to 120 million, no dividend declared
HENDERSON INV's annual loss widened to HKD 120 million, and no dividend will be distributed. The increase in loss is mainly due to the accounting treatment of multiple store leases and the negative impact of outbound travel and cross-border consumption. The consolidated after-tax loss from 千色 Citistore and Unicorn for the fiscal year 2024 is HKD 116 million. Last year's revenue was HKD 1.535 billion, a year-on-year decrease of 1.03%. Looking ahead, the group will optimize its store network, expand its membership program, and utilize technology systems to adjust product types to attract customers
The group indicated that the increase in losses was mainly due to the cumulative impact of the accounting treatment related to the continuation of multiple store lease agreements at the same time, as well as the negative effects brought about by the continuous increase in outbound travel, cross-border consumption, and cross-border shopping. The consolidated after-tax loss from 千色 Citistore and Unicorn for the fiscal year 2024 amounted to HKD 116 million.
The group's revenue last year was HKD 1.535 billion, a year-on-year decrease of 1.03%, with sales revenue increasing by 2.95% year-on-year to HKD 1.151 billion. Last year, the total sales amount of self-operated products at 千色 Citistore, along with consignment and franchised counters, decreased by 12% year-on-year to HKD 1.358 billion, with sales amounts from self-operated products, consignment counters, and franchised counters decreasing by 10%, 11%, and 15% year-on-year, respectively. In contrast, Unicorn's total sales of self-operated products along with consignment counters increased by 4% year-on-year to HKD 1.169 billion, with sales amounts from self-operated products and consignment counters increasing by 8% and decreasing by 5% year-on-year, respectively.
Looking ahead, the group stated that the central government recently restored and expanded the "one visa, multiple entries" personal travel visa arrangement for Shenzhen residents, making it more convenient for local residents to visit Hong Kong, which will benefit the local retail industry. In the future, the group will continue to review the performance of each store, optimize the store network structure, and strive for better lease conditions.
In addition, the member loyalty program has just completed its integration, and the group will focus on expanding its membership base. By utilizing the integrated information technology system, the group aims to better understand customer needs, adjust product types, and implement targeted promotional strategies to attract more customers. Together with 千色 Citistore and Unicorn continuing to integrate product procurement and logistics functions, although the market remains full of challenges, the group expects its performance to improve
