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.
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.
More shops in Macau employed more people last year than they did in 2011, the annual Wholesale and Retail Survey conducted by the Statistics and Census Service of Macau has found.
The survey said there were 5,997 retail establishments, 230 more than in 2011, and they employed 29,979 people, an additional 5,833 staff.
Hong Kong cosmetics retailing group Sa Sa International last week said its retail and wholesale sales jumped 20.1 percent to HKD1.91 billion (USD246.2 million) for the three months ended on 30 June 2013. Turnover in Hong Kong and Macau rose 24.8 percent to HKD1.53b, with same store sales growth of 17 percent. The group's retail and wholesale turnover in other markets, including Mainland China, Singapore, Malaysia, Taiwan and sasa.com, recorded a growth of 4.2 percent during the first quarter.
A consumer satisfaction survey shows that respondents have given the clothes shopping experience in Macau a score of 71.2 points on of a scale of 100 points, while Zhuhai outlets got only 64 points.
Luk Fook Holdings (International) Limited has opened its largest flagship store in in Macau on 8 June. The store has a total floor area of over 16,000 square feet and is the tenth outlet of the Group in Macau.
The store has a “Wedding Zone” which feature high-end products such as pink and blue diamonds and luxury watches.
“The rapid development of Macau in recent years has attracted a tremendous amount of tourists from Mainland China and overseas," said Wong Wai Sheung, Chairman and Chief Executive of the Group.