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Parkson Retail's Q4 earnings down 36%

Fall in same-store sales in Vietnam, adverse currency effects cited

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DEPARTMENT store operator Parkson Retail Asia reported a near 36 per cent year-on-year drop in net profit to S$3.17 million for its financial fourth quarter ended June 30. This was due to negative same store sales growth (SSSG) in Vietnam, initial losses from new stores and adverse currency translation effects - PHOTO: BLOOMBERG

DEPARTMENT store operator Parkson Retail Asia reported a near 36 per cent year-on-year drop in net profit to S$3.17 million for its financial fourth quarter ended June 30. This was due to negative same store sales growth (SSSG) in Vietnam, initial losses from new stores and adverse currency