Sincere (00244) said its loss attributable to equity holders for the six months ended 31 August 2014 widened to HK$69.08 million from HK$32.797 million for the same period in 2013.
Its basic and diluted loss per share was HK22 cents.
The revenue was HK$167 million, a decrease of 25.8% from a year earlier.
Sincere said the three new strategic stores being opened at late 2013 to early 2014 were still on their learning curves and yet to match with the revenue that was previously generated by the two closed stores. With the slow down on the visiting PRC tourists, there were pressure on the retail industry and posed aggressive markdowns by competitors.
No interim dividend will be distributed.
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