Retail | Bossini seeks rent cuts amid declining sales
A Bossini shop in Macau
The apparel company Bossini International Holdings is planning to introduce measures to ease pressure from rental expenses in Hong Kong and Macau amid slowing sales, the Hong Kong Economic Journal reported yesterday.
According to representatives from the company, per square foot sales in the two cities fell 3 percent to HKD8,500 from the start of the fiscal year up until June, while same store sales were roughly the same as last year’s, compared with 12 percent growth in the same period last year.
Bossini’s chief executive Edmund Mak Tak-cheong revealed that the company is negotiating with landlords to reduce rental fees as it boosts productivity in its shops to lower expenses.
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