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Tokyo, Oct. 13 (Jiji Press)--Japanese retail giant Aeon Co. said Tuesday that its consolidated net profit in the March-August first half of its current business year increased 3.3-fold from a year earlier to 13.3 billion yen. The surge reflected the strong performance of drugstore operator Tsuruha Holdings Inc., which became an Aeon subsidiary in January, and a decrease in special losses. ...
China’s passenger vehicle retail sales fell 24% in September from a year earlier to 1.702 million units, while new-energy vehicle sales declined 12% to 1.141 million units, according to data released by the China Passenger Car Association.
Japanese, South Korean and Thai brands have increased their share of new entrants in Hong Kong’s retail property market by 7 percentage points to more than one-third in the first nine months of 2026, while the demand for shops from mainland Chinese brands has slipped, according to Cushman & Wakefield. A slew of new brands helped lift the combined share of Japanese, South Korean and Thai brands to a three-year high, according to Cushman, which said it expected the trend to continue. This year,...
Hong Kong’s first Chinese-owned department store, Sincere, will close its historic branch in the city’s central business district in December after 126 years of retail history. The company revealed, however, that it would seek a new location in Central or Sheung Wan. Sincere announced on Sunday that the flagship store would shut in early December after lease renewal talks with the landlord broke down ahead of the tenancy expiring on December 31. “As a result, the Central store will cease...
Adrian Cheng Chi-kong, former heir apparent to Hong Kong’s New World Development (NWD), is expanding his K11 cultural retail business in mainland China, launching a venture of his own as his family’s property group grapples with heavy debt. Xiamen K11 Select, developed by Cheng’s K11 by AC Group along with state-owned Xiamen Rail Transit Group in the city in the southeastern province of Fujian, has attracted more than 2 million visits since its opening on September 22, with sales rising 32 per...
Hong Kong’s retail sales rose by 5.6 per cent year on year in August, with the latest figures showing consumer spending picking up after growth eased for two consecutive months. Retail sales value reached HK$32 billion (US$4.1 billion), according to provisional figures released by the Census and Statistics Department on Friday. Sales in the first eight months of the year rose by 8.5 per cent compared with the same period in 2025. “Growth was seen across many types of retail outlets, while online...
Three of South Africa’s biggest retailers are turning to new leadership to revive growth or accelerate turnaround plans as competition intensifies in one of the continent’s most developed consumer markets.
TJ Maxx has become a force in luxury retail, taking advantage of department stores canceling orders and brands clearing end of season lines. But whilst it’s good for shoppers as the average price of luxury goods increases, the strategy has risks for the store and the high-end labels, explains Bloomberg Opinion columnist Andrea Felsted. (Source: Bloomberg)
Apollo Global Management Inc.-owned retailer Michaels Cos. used a windfall from tariff refunds to help cut its leverage, according to people familiar with the matter.