Restaurant chain operator Wowprime Corp (王品) saw its revenue last month slide 2.79 percent annually to NT$1.23 billion (US$39.87 million), the second-lowest this year after April’s NT$1.2 billion, due to its business declining in China.
Sales from China fell 10.39 percent year-on-year to NT$470 million, which led to an annual decline of 4.55 percent to NT$4.99 billion for the first nine months of this year, it said in a statement.
The decline could be partially attributed to its closure of stores that were less profitable in light of a slowing economy, it said, adding that as of the end of last month, its number of outlets was down by 10 from a year earlier.
“Our overexpansion of Hong Kong-style restaurant Madam Goose (鵝夫人) was a drag on the business in China,” Wowprime said in a statement.
The company said it has adjusted its operational strategy in China by introducing a new Cantonese restaurant and hopes to boost average sales per customer by changing its menus, and improving services and customer experience.
The company transformed some of its Madam Goose restaurants to the new Cantonese restaurant earlier this month to attract new customers, it said.
Its other four brands are doing better in China, with Wangsteak (王品牛排) and Tasty (西堤牛排) reporting higher same-store sales for the first three quarters and Japanese restaurants Wu Yu (舞漁) and Wu Ni (北島鮨鮮) turning a profit, it said.
Its business in Taiwan continued to grow, with sales rising 2.46 percent year-on-year to NT$770 million, and cumulative sales in the first three quarters expanding 5.08 percent from a year earlier to NT$7.44 billion, it said.
The company introduced a high-end steak restaurant — The Wang — in Taichung this month, and plans to open two new restaurants in New Taipei City this quarter, it said.
Separately, Gourmet Master Co (美食達人), the operator of cafe and bakery chain 85°C (85度C), saw revenue edge up 1.03 percent year-on-year to NT$1.96 billion last month, putting an end to 13 consecutive months of declines, aided by improvement in its unit in China, it said.
Same-store sales reported double-digit growth, while shipments of its mooncakes climbed annually, it said.
The company plans to open a new branch in Portland, Oregon, this quarter and introduce new bakery products and drinks in China, Taiwan and the US to drive sales momentum.
Sales in the first nine months dropped 4.58 percent annually to NT$17.43 billion, company data showed.
POWERING UP: PSUs for AI servers made up about 50% of Delta’s total server PSU revenue during the first three quarters of last year, the company said Power supply and electronic components maker Delta Electronics Inc (台達電) reported record-high revenue of NT$161.61 billion (US$5.11 billion) for last quarter and said it remains positive about this quarter. Last quarter’s figure was up 7.6 percent from the previous quarter and 41.51 percent higher than a year earlier, and largely in line with Yuanta Securities Investment Consulting Co’s (元大投顧) forecast of NT$160 billion. Delta’s annual revenue last year rose 31.76 percent year-on-year to NT$554.89 billion, also a record high for the company. Its strong performance reflected continued demand for high-performance power solutions and advanced liquid-cooling products used in artificial intelligence (AI) data centers,
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