Giordano int'l (00709) fell nearly 9%, as of the time of publication, it fell 8.38%, to HKD 1.64, with a turnover of HKD 7.7 million.
According to the Wisdom Financial app, Giordano int'l (00709) fell nearly 9%, as of the time of publication, it fell 8.38%, to HKD 1.64, with a turnover of HKD 7.7 million.
On the news front, Giordano int'l issued a profit warning, with first-half profit expected to be between HKD 0.11 billion and HKD 0.13 billion, a significant decrease year on year. This is mainly due to one-off expenses incurred by holding a special shareholders' meeting at the request of shareholders during the period; a decrease in profits from the joint venture in South Korea; negative growth in comparable store sales in mainland China, due to lack of investment in the brand and products in the past, resulting in a high level of obsolete inventory; and weaker business in Hong Kong due to the impact of mainland Chinese consumers, termination of consumption voucher plan, and lack of rental subsidies.