Major domestic department store operators yesterday said they are bullish about their upcoming pre-Mother’s Day promotion activities — the most important sales campaign for the industry during the first half of the year — after reporting strong sales in the first three months of the year.
Shin Kong Mitsukoshi Department Store Co Ltd (新光三越百貨), the nation’s largest department-store chain, has targeted NT$9.7 billion (US$310.59 million) in sales for its 13 branches across the nation during its month-long pre-Mother’s Day campaign.
Shin Kong Mitsukoshi assistant vice president of operations Chris Chou (周寶文) said the sales target is 3 percent higher than last year.
In the first quarter, the company’s sales grew about 5 percent from the same period last year.
Chou said Shin Kong Mitsukoshi is optimistic about its business outlook for the rest of the year, as it benefits from a new membership program launched in October last year.
The program, which had signed up a total of 450,000 members as of the end of last month, is expected to improve Shin Kong Mitsukoshi’s customer base by drawing more consumption from youngsters under 40, Chou said.
Far Eastern Department Stores Co (遠東百貨), which has 10 outlets in Taiwan, also aims to generate NT$6.8 billion in sales in the run-up to Mother’s Day, up 5.3 percent from the same period last year.
Hsieh Kuan-wen (謝寬文) said two of the company’s shopping malls — Top City (台中大遠百) in Taichung and Mega City (板橋大遠百) in New Taipei City — may lead the sales performance continuously, backed by their larger food and beverage sales, which showed an 8.5 percent increase in the first quarter to top the list.
Pacific Sogo Department Stores Co (太平洋崇光百貨), another major department store chain under the control of Far Eastern Group (遠東集團), has not announced its sales target for the pre-Mother’s Day sales event yet.
However, the department-store operator has launched a sales campaign for its Zhongxiao (忠孝) and Fuxing (復興) stores, with a focus on cosmetics and skin-care products, aiming to generate NT$550 million in revenue for the company ahead of the official pre-Mother’s Day event, an increase of 10 percent over the same campaign last year.
Miramar Entertainment Park (美麗華百樂園), a shopping mall in Taipei’s Dazhi district (大直), expects sales during its pre-Mother’s Day event to rise 6.5 percent from a year earlier to NT$660 million, following the strong-than-expected consumption momentum in the first three months of the year, company officials said.
Miramar Entertainment has set its full-year sales target at NT$6.8 billion, a rise of 6 percent from the NT$6.4 billion it posted last year.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
ROW: A probe would determine if the rights of shareholders who were not allowed to vote yesterday had been violated, while the stock exchange also wants answers The election of board directors yesterday at Tatung Co (大同) sparked controversy after the company blocked some institutional and individual shareholders from participating in the general shareholders’ meeting, prompting the Financial Supervisory Commission (FSC) to announce that the vote would be investigated. Lin Kuo Wen-yen (林郭文艷) was re-elected as chairwoman of the household-appliance maker’s nine-member board, but prior to the vote she announced that several shareholders would not have voting rights. They were being denied a vote because they had contravened the Business Mergers and Acquisitions Act (企業併購法), and the Act Governing Relations Between the People of the Taiwan Area and