Giordano Q3 Revenue Falls 8.3% Amid Revamp
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
Giordano International reported weaker sales for both the third quarter and the first nine months ended September 30, as revenue and same-store sales declined across most regions. The group said it will keep focusing on reviving its core brand, after relaunching Giordano Ladies, and is preparing to roll out its “Giordano 2.0” transformation plan.
Key Points
- For the first nine months ended September 30, Giordano International's revenue fell 3.3% year on year to HK$2.734 billion, while same-store sales dropped 2.7% to HK$1.992 billion
- In the third quarter alone, revenue declined 8.3% year on year to HK$820 million, and same-store sales fell 7.1% to HK$605 million
- Global brand sales for the first nine months were HK$3.082 billion, down 3.4%, while third-quarter global brand sales were HK$893 million, down 7.7%
- By market, first-nine-month revenue in Greater China fell 4.7% to HK$1.225 billion, Southeast Asia and Australia slipped 1% to HK$1.001 billion, and the Gulf Cooperation Council dropped 4.5% to HK$508 million
- At the end of September, the group had 1,471 stores, 156 fewer than a year earlier, and said the first “Giordano 2.0” stores will open in Singapore and Malaysia before Hong Kong
Why It Matters
For Hong Kong readers, the planned local arrival of the new “Giordano 2.0” format means the city's market is part of the group's next-stage retail overhaul rather than an afterthought. The figures also show that Greater China was the weakest major region in the third quarter, adding pressure on management to prove the revamp can lift sales momentum closer to home