Shin Kong Mitsukoshi Department Store Co (新光三越百貨) yesterday said that sales at its four stores in Taipei’s Xinyi District (信義) would reach NT$1 billion (US$32.59 million) on the first day of its month-long anniversary event, thanks to robust sales of home appliances and cosmetics products.
The sales event began yesterday and is to end on Nov. 11.
The Xinyi stores — A4, A8, A9 and A11 — are forecast to generate combined anniversary sales of NT$5.6 billion this year, up 1 percent from last year’s event, the company said.
Photo: CNA
The four stores saw a 5 percent sales growth in the first half of this year, the company said, without giving exact figures.
Overall anniversary sales from its 15 stores nationwide are expected to reach NT$20.4 billion this year, it added.
“Average consumption per customer is expected to remain steady, but the customer flow today seems lower than a year ago,” Shin Kong Mitsukoshi executive vice president Richard Wu (吳昕陽) said.
An unstable global political and economic environment has negatively affected Taiwan’s economy and therefore the department store’s customer flow, Wu said.
The Xinyi stores saw strong first-day sales of Estee Lauder, SK-II and Lancome cosmetics and skincare products, while sales of vacuum cleaners, air purifiers, large-screen TVs and air fryers showed the greatest growth among home appliances this year, Shin Kong Mitsukoshi said.
As temperatures drop, sales of major apparel brands are likely to grow, it said.
The company said that it plans to raise average sales per customer by offering discounts and gifts, as well as special offers through its mobile app.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
PORTFOLIO REBALANCING: The adjustments in three global equity indices reflect rising investor appetite for semiconductor and artificial intelligence-related stocks Taiwan’s weighting in major global equity indices compiled by MSCI Inc is to rise modestly following the latest quarterly review, underscoring the market’s expanding role in emerging-market portfolios, as global investors continue to favor the nation’s technology sector. Taiwan’s weighting in the MSCI Emerging Markets Index is to increase by 0.30 percentage points to 23.76 percent, after the changes take effect at the close of the May 29 session. Its weighting in the MSCI All-Country Asia ex-Japan Index is to rise 0.37 percentage points to 27.16 percent, while that in the MSCI All Country World Index is to edge up slightly to
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
The Hsinchu County Government’s Labor Affairs Department yesterday said that it has received a plan from cosmetics brand Taiwan Shiseido Co (台灣資生堂) detailing mass layoffs at its plant in Hukou Township (湖口). While the labor authorities did not disclose the number of employees to be laid off, Japanese news media earlier in the day reported that the closure of the company’s factory in Hukou would result in 170 employees losing their jobs. Shiseido followed the law by reporting its layoff plan, the department said, adding that authorities would closely monitor negotiations between the management and affected employees and step in if any
RSS