Fri, Oct 11, 2013 - Page 14 News List

Baby clothing retail chain boosted by sales in China

By Amy Su  /  Staff reporter

Cayman Tung Ling Industrial Co (開曼東凌集團), a maker of baby clothes and related products, this week reported its consolidated revenue last month hit the highest level in the company’s history, thanks to strong seasonal demand in China.

Tung Ling, which has two brands — Piyo Piyo and Abby Bear — operates about 370 outlets in Taiwan, China and the US, with China a major sales driver with 349 outlets.

Consolidated sales were NT$158.65 million (US$5.37 million) last month, up 1.3 percent year-on-year and 21.45 percent month-on-month, the company said in a statement.

The company said it remained optimistic for this quarter, after sales in the first three quarters totaled NT$1.12 billion, up 2.4 percent from a year earlier, according to the statement.

The economic recovery in China drove up private consumption and retailers like Jinli Group Holdings Ltd (金麗集團控股), as the China-based operator of two apparel and shoe brands also saw a significant growth in sales last month.

Revenue increased 12.21 percent year-on-year and 15.12 percent month-on-month to NT$444 million last month, while cumulative sales in the first nine months stood at NT$3.75 billion, up 16.16 percent from a year earlier, Jinli said in a separate statement.

However, Grand Ocean Department Store Group Co (大洋百貨), which operates 16 department stores in China, reported sales last month decreased 11.76 percent from a year earlier and 0.6 percent lower than August to NT$543.81 million.

The company attributed the decline to its floor renovation plan launched at some of its stores last quarter to drag down its revenue.

The company closed three loss-making department stores in China in the first half of this year, and said it hopes improved store quality could help sales recover this quarter.

Total sales in the first nine months declined 2.25 percent year-on-year to NT$5.16 billion, company data showed.

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