Reported 12 months ago
Taipei, July 1, 2024 - The retail industry managed to achieve 'just passing' grades in the first half of the year, with international luxury brands and cosmetics dragging down the overall performance. After a challenging first quarter, the industry saw a recovery in the second quarter driven by Mother's Day and mid-year sales, resulting in a slight increase or flat performance compared to last year. Major department stores like Shin Kong Mitsukoshi reported a 2% growth, while department stores like Far Eastern SOGO remained stable. Shopping malls like Breeze, Far East Mega City, and Taoyuan Da Jiang saw a 6%-7% increase in performance, with international brand outlets such as Huatai Outlets only seeing a 1% growth. The sector faced challenges in the luxury brand and cosmetics segments due to decreased demand. Regional shopping centers without luxury brands experienced relative stability in H1 performance.
Source: YAHOO