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Two of Hong Kong’s major jewellers said Covid-19 continues to deal a heavy blow to the retail industry.
Tse Sui Luen Jewellery (International) Ltd recently issued a profit warning, stating that it expects to lose not less than HK$80 million (around US$10.32 million) during the current financial year ending March 31, 2020.
The company earned a profit of HK$54 million (around US$6.97 million) in the previous year.
Based on preliminary data, retail sales in February are seen to drop by approximately 88 per cent year on year, which is the worst turnover during the traditional peak season in retail, according to TSL.
“The coronavirus...
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