SINGAPORE (Feb 23): Department store operator Parkson Retail Asia has reported a lower net profit of S$26.3 million for the financial year ended Dec 31, 2023 (FY2023), a 8.5% year-on-year decline from the same period a year before (FY2022). 

The group recorded a lower profit before tax for the full year at S$37.6 million, compared with S$43.7 million in the corresponding year before, mainly due to the fewer store count in 2023, as well as the weakened spending power of consumers compared to 2022.

Parkson’s earnings per share for FY2023 came in at...(click on link for full story on theedgesingapore.com)