Most Americans have never heard of SOGO department stores but they are those mega-sized, high-end department stores like Bergdorf Goodman and Macy’s. But SOGO is the largest department store in Hong Kong and rapidly expanding into mainland China.
“The performance was not as bad as expected. We saw a slight same-store sales growth in May thanks to double-digit growth in same-store sales in China last month.”
The Chinese consumer is still spending.
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{ 1 comment… read it below or add one }
Actually SOGO is a Japanese department store with origins
in the Kansai area. There’s one in Osaka and Kobe where I
live.
It went broke a few years ago and bought by Seibu which is
a Kanto area department store. You must be aware of it living
in Japan for a long time.