With its huge casinos and glittering hotels, Macau has established itself as a top tourist destination for wealthy mainlanders in recent years.
Hong Kong's biggest cosmetics chain Sa Sa International posted strong growth in revenue for the third quarter of financial year 2013–14.
The beauty retailer said on Thursday group turnover rose 14.8 percent from a year earlier to HKD2.52 billion (USD325 million) in the three months ended on 31 December 2013. Same store sales at its Hong Kong and Macau operations surged 15.8 percent. The number of transactions and average sales per transaction in Hong Kong and Macau grew 15.4 percent and 3.1 percent respectively.
Melco Crown Entertainment teams up with Taubman Asia to develop Boulevard project at Studio City resort in Macau
Melco Crown Entertainment and Taubman Asia, the Asian arm of the US Mall operator Taubman Centres, on Thursday unveiled plans to develop the Boulevard project at Macau's entertainment, retail and gaming resort, Studio City.
Studio City is a new cinematically-themed entertainment and leisure destination in Macau which is scheduled to open in the third quarter of 2015. Taubman Asia is providing merchandising, marketing and management services for its retail project.
The value of retail sales in Macau was MOP67.6 billion (US$8.46 billion) last year, 1 per cent more than the year before, Business Daily reports, citing Census and Statistics Service data.
The newspaper says the growth was small because the campaign against corruption in the mainland deterred mainlanders from spending lavishly in Macau and the protests in Hong Kong against curbs on democracy there deterred mainlanders from visiting both cities.
Hong Kong-based handbag retailer Milan Station Holdings Ltd says it intends to open more outlets in Macau.
The company told the Hong Kong Stock Exchange it would increase to 10 from 6 the number of "exclusive clubhouses" it has in the city. The expression usually refers to outlets in VIP gaming facilities.
The number of credit cards on issue in Macau that are billed in two currencies had risen to 148,770 by the end of June, 3.4 percent more than three months earlier, official data show. The Monetary Authority of Macau says the total number of credit cards on issue rose by 3.8 percent to 796,855.
State-owned telecommunications provider PT Telekomunikasi Indonesia (Telkom) will open two new overseas branches this year, in Taiwan and Macau.
Adding to the new branches, Telkom public relations vice president Arif Prabowo said that the company would proceed with a Mobile Virtual Network Operator (MVNO) agreement, which would allow Telkom to forge cooperations with fellow network operators in the two countries.
The value of retail sales in Macau fell to MOP18.31 billion (USD2.29 billion) in the first quarter of this year from MOP18.33 billion in the preceding quarter, official data show.
The Statistics and Census Service says sales of watches, clocks and jewellery made up 29 percent of the total, department store goods made up 17 percent, leather goods 10 percent, adult clothing 10 percent, supermarket goods 6 percent and motor vehicles 6 percent.
The composite price index in Macau in March 2014 increased 6.36 percent year-on-year, which the Statistics and Census Service (DSEC) said is attributable to higher charges for eating out, rising rentals for dwellings and higher prices of vegetables.
Compared to March 2013, higher prices were noted for Housing & Fuels (+12.37 percent); Household Goods & Furnishings (+7.18 percent); and Food & Non-Alcoholic Beverages (+6.51 percent).
Chow Tai Fook Jewellery Group Ltd’s same-store sales in Hong Kong and Macau were 9 percent lower in its fourth quarter than a year earlier as fewer customers visited its shops, Bloomberg reports. In its third quarter, the jewellery retailing chain’s same-store sales in Hong Kong and Macau had been 7 percent higher than a year earlier.