Glonghui, April 19 | Giordano International (00709.HK) announced that in the first quarter of 2024, the group's revenue fell slightly by 1.1% year-on-year, partly due to the unstable business environment, the company continued its store consolidation cycle in Greater China. Furthermore, the unusually cold weather in the region also contributed to relatively sluggish sales performance.
The quarterly same-store sales performance was stable, with a slight increase of 0.7%.
The inventory balance decreased by 14% year-on-year to HK$491 million (2023: HK$569 million).