Parkson Retail Group (03368) said its profit attributable to shareholders for the first quarter ended 31 March 2018 surged 37.6 times year-on-year to Rmb44.15 million.
Same store sales for the quarter increased 1.7%, demonstrating an encouraging rebound of sales trend from the decrease of 2.2% in the same period last year. Total operating revenues grew 2.9% to Rmb1,291 million.
The Group generated gross sales proceeds of Rmb4,324 million in the first quarter of 2018, a decline of 1.9% as compared to the same period last year, which was mainly due the closure of six underperforming stores in 2017 as part of the Group's continuing effort to optimize the productivity of its stores and to better utilize its resources.
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