Core Viewpoint - Sasa International Holdings Limited has announced plans to close all offline stores in mainland China by June 30, 2025, shifting focus to online sales due to declining profitability in physical retail [1][3]. Group 1: Company Performance - Sasa International, established in 1978, is a prominent beauty retail group in Asia, listed on the Hong Kong Stock Exchange since 1997, with operations in Hong Kong, Macau, mainland China, and Southeast Asia, offering over 600 product brands [2]. - For the fiscal year ending March 31, 2025, Sasa reported a 9.7% year-on-year decline in total revenue to HKD 3.942 billion, with net profit plummeting 64.8% to HKD 76.97 million [2]. - Online sales in mainland China reached HKD 418 million, a slight increase of 0.6% year-on-year, accounting for 58.4% of the group's total online revenue [2]. Group 2: Strategic Shift - The decision to close offline stores is driven by the inability to effectively cover the vast mainland market with only 18 stores, alongside the fact that online sales constitute 80% of the group's revenue in mainland China [3]. - Sasa International plans to concentrate resources on online business, having already established seven third-party online platforms in mainland China, with improving profitability in recent years [3]. Group 3: Market Outlook - Sasa International remains optimistic about retail performance in Hong Kong and Macau, despite a 12.3% decline in revenue to HKD 2.9918 billion for the fiscal year 2024/25 [7]. - The company anticipates a recovery in foot traffic and sales in the Hong Kong and Macau markets due to government initiatives to stimulate tourism, with a narrowing decline in offline sales from 19.4% in the first half to 6.3% in the second half of the fiscal year [7]. - The company will continue to seek suitable locations for new stores in traditional tourist areas to serve both local and mainland customers [7].
莎莎国际关闭内地所有门店，多家美妆巨头业绩失速，下滑明显