Intense competition takes toll on Parkson's Q1 bottom line

Published Tue, Nov 25, 2014 · 09:50 PM

Kuala Lumpur

PARKSON Holdings Bhd missed core profit estimates in the first quarter to end September as intense competition resulted in the retailer registering negative same-store sales growth (SSSG) in three out of four of its major markets.

The once retail favourite saw its stock ease 3.3 per cent to RM2.40 on Tuesday after posting a net profit of RM20.2 million (S$7.85 million) - a 34 per cent drop from a year ago and 25 per cent less than the preceding quarter.