Retail firms collectively post weaker quarterly earnings

Singapore

Major Singapore Exchange-listed retail companies turned in a poorer report card for the quarter ended Dec 31, 2016, as the collective bottom line fell 43 per cent year on year against the backdrop of a challenging retail environment.

The combined profits for key retail firms with local operations totalled S$55.21 million, while revenue was nearly flat for the quarter at S$881.82 million.

Among them were supermarket group Sheng Siong which actually posted a 5.3 per cent rise in…