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FINWIRES

Giordano International's Q1 Revenue Up Nearly 4%

-- Giordano International (HKG:0709) reported HK$1.04 billion in first-quarter revenue, up 3.9% from HK$997 million a year earlier, according to a Thursday Hong Kong bourse filing.

Revenue in Greater China rose 7.8% to HK$456 million, while sales in Southeast Asia and Australia jumped 4.2% to HK$398 million. Revenue from the Gulf Cooperation Council region fell 5.2% to HK$182 million.

By channel, online revenue climbed 40.5% year over year to HK$163 million, while offline sales increased 2.3% to HK$767 million.

Revenue from wholesale to franchisees fell 19% to HK$106 million.

Group same-store sales jumped 8.2% to HK$817 million from HK$755 million.

As of March 31, the apparel retailer operated 1,565 stores, down from 1,720 a year earlier.

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