Far Eastern Department Stores Co (遠東百貨) said it expects revenue to increase by NT$10 billion (US$338 million) and reach about NT$37.5 billion this year on the back of contributions from two new outlets.
In the first two months, Far Eastern witnessed a sales jump of 68.64 percent to reach NT$7.94 billion, thanks to buying interest stirred up by the two new stores, according to Chuang Chien-hsiang (莊見祥), a marketing director at the company.
The department store chain operator opened an outlet in Greater Taichung — Top City — and another in the Banciao District of New Taipei City — Mega City — at the end of last year.
Currently, Far Eastern Department Stores operates a total of 10 outlets in Taiwan. Unlike the new stores, the other eight failed to post significant sales growth in the past two months, Chuang said.
However, with the impact from the debt crisis in the eurozone fading and increasing signs of a recovering global economy, sales in all of its stores are expected to improve from the second quarter of this year, he said.
Chuang added that the company would launch a series of promotional campaigns for the summer, in particular for the upcoming Mother’s Day.
Last year, the company posted NT$27.64 billion in sales, up 11.98 percent from 2010, and registered NT$1.64 in earnings per share.
It has proposed issuing a NT$1 cash dividend and a NT$0.4 stock dividend for last year.
The dividend plan is pending approval from an annual general meeting scheduled for June 21.
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