180
Fashion Jobs
SAMSOE
Account Manager no (Menswear)
Permanent · OSLO
BEST SELLER
Bestseller Søker Business Controller Til Vero Moda
Permanent · OSLO
ABBOTT
Territory Manager
Permanent ·
NEW YORKER
Butikkselger 100% Til New Yorker i Bergen
Permanent · BERGEN
H&M
Sales Advisor, Deltid - Metro Senter, Lørenskog
Permanent ·
H&M
Sales Advisor, Deltid - Amfi Kanebogen, Harstad
Permanent · HARSTAD
H&M
Sales Advisor, Deltid 80% (Vikariat) - h&m Torgkvartalet, Stjørdal
Permanent · STJØRDAL
H&M
Sales Advisor (Sommerassistenter) - Strandtorget, Lillehammer
Permanent · LILLEHAMMER
H&M
Sales Advisor (Sommerassistenter) - Nordbyen Kjøpesenter, Larvik
Permanent · LARVIK
H&M
Sales Advisor (Sommerassistenter) - Farmanstedet, Tønsberg
Permanent · TØNSBERG
H&M
Sales Advisor, Deltid (Vikariat) - Alti Mandal
Permanent · MANDAL
ZIZZI
no: Salgsassistent. 20% Vikariat
Permanent · STRØMMEN
NEW YORKER
Ekstrahjelp/Sommerhjelp Til New Yorker i Hamar
Permanent · HAMAR
TOMMY HILFIGER
Tommy Hilfiger is Looking For a Sales Assistant (Full Time) For Our Outlet Store, Vestby
Permanent ·
TOMMY HILFIGER
Stockroom Manager, Tommy Hilfiger - Vestby Outlet
Permanent ·
POPKEN FASHION GMBH
Social Media Manager (M/W/D) - Norwegian Market (Freelancer)
Permanent · OSLO
POPKEN FASHION GMBH
Copywriter/Translator - Norwegian Market (Freelancer)
Permanent · OSLO
PANDORA
Sales Assistant Part Time (M/F/X) - Sandvika Storsenter
Permanent · SANDVIKA
JACK & JONES
Jack & Jones Lillehammer Strandtorget Søker Deltid 80%
Permanent · LILLEHAMMER
H&M
Sales Advisor (Sommerassistent) - Kvadrat Kjøpesenter, Sandnes
Permanent · SANDNES
JIMMY CHOO
Sales Associate - Oslo - Norway
Permanent · OSLO
H&M
Sales Advisor (h&m Home) - Karl Johan, Oslo
Permanent · OSLO
By
Reuters
Published
Jun 30, 2016
Reading time
2 minutes
Download
Download the article
Print
Text size

Hong Kong May retail sales fall for 15th month, tourists stay away

By
Reuters
Published
Jun 30, 2016

Hong Kong's retail sales fell for the 15th successive month in May, as a drop in mainland tourists and weak local consumption hit spending, triggering concerns about a deeper slump.


Wikimedia


"Retail sales declined in most segments. While the chance of seeing a turnaround is unlikely, we have to watch closely the jobless rate - a rise in unemployment may point to a further slowdown in the economy," said Paul Tang, chief economist at Bank of East Asia.

Tang expects high single-digit percentage declines in retail sales in the next few months.

Retail sales in May slid 8.4 percent from a year earlier to HK$35.7 billion ($4.60 billion) in value terms, deeper than a 7.5 percent slump in April. In volume terms, May sales dropped 9 percent, government data showed on Thursday.

"Retail sales stayed weak in May...This was due partly to the drag from the slowdown in inbound tourism and partly to the more cautious local consumer sentiment amid the sub par economic conditions," the government said in a statement.

Hong Kong tourist arrivals in May fell 6.4 percent from a year earlier to 4.45 million, after sliding 2.1 percent in April. Mainland visitors, who account for 74.6 percent of the total, fell 8.3 percent to 3.32 million in May.

Hong Kong is struggling with mounting economic challenges and a strong currency, as the Hong Kong dollar is linked to the U.S. dollar. Meanwhile, mainland tourists are avoiding the city amid political tensions with China and growing calls from radical activists for greater autonomy from Beijing.

"The near-term outlook for retail sales is still subject to a large degree of uncertainty, depending on the performance of inbound tourism as well as the extent to which local consumption sentiment will be affected by the increased external headwinds and heightened financial market volatility," the government said.

Sales of jewelry, watches, clocks and valuable gifts in May fell 18.7 percent in value terms, a 21th consecutive month of decline. Department store sales slid 5.9 percent on year, while wearing apparel fell 5.7 percent.

A string of retailers from jewelry firms to cosmetics have reported weaker sales.

Chow Tai Fook Jewellery and cosmetics retailer Sa Sa International have seen their yearly profit drop by half from the previous year, forcing the companies to scale back expansion and shift their focus to local customers.

$1 = 7.7585 Hong Kong dollars
 

© Thomson Reuters 2024 All rights reserved.