Product Item: KE-0138

Hong Kong wall clock tide line appears closure
Xinhua News Agency, Hong Kong, October 22 - Affected by the uncertain economic environment, the impact of negative factors tourism and retail markets decline, etc., appear before Hong Kong's core retail area ZhongBiaoDian graduation tide.
Related statistics show that this year in Causeway Bay, Central, Tsim Sha Tsui and Mong Kok, is expected to have up to 26 wall clockes shop surrender graduation, and 16 last year by over 60% compared to the industry in recent years, the number of new graduates high.
According to Hong Kong media reports, the Excelsior Plaza, Causeway Bay, a ground floor, leased to approximately HK $ 500,000 from the wall clock line, the lease will expire early next year, the current owners have rent reduction to pre-lease about 400,000, a decrease of nearly two.
At the same time, Canton Road, Tsim Sha Tsui Gilman Building, 1-3 ground floor, an area of ​​about 3600 square feet (1 square meter = 10.76 square feet), earlier won the wall clock brand of HK $ 6.3 million to rent, lease expires in 2019, although, but the relevant line in the table introduced earlier this year in which the No. 3 recruit top rent the ground floor (an area of ​​about 1200 square feet), called the lease of 300 million, but has no buyers, currently on the 3rd shop called rent has been reduced to less than HK $ 2 million.
It is worth noting that plans to close down the wall clockmaker popularity table cover, mid-table and high table brands; wherein Kowloon table row this year it has already closed Causeway Bay, Mong Kok and Shatin Centre Branch letter, and Prince Jewellery & wall clock the end of Russell Street, Causeway Bay branches.
Kowloon table row Business Development Manager Huangjia Heng said that this year's graduation line of wall clockes, the number is expected to increase nearly eight percent over last year, while this year the bank closed three stores.
He predicted that next year the wall clock case closure will last row, which is regarded as the hardest hit in Causeway Bay, rents to fall into four Daowu Cheng available to a reasonable level of rent.
The latest data also show that Swiss wall clock exports in the first three quarters of this year, Swiss wall clock exports to Hong Kong products, worth about HK $ 19.5 billion, down more than two percent over last year.
Insiders said that the tourism industry appears spate of negative news impact, coupled with the overall economic situation of uncertainty, the future prospects of the industry or the wall clock sales will deteriorate further.
Prince Jewellery primary Sheet Chairman Deng Kui Ming pointed out that during November this year, "Golden Week", the company's sales fell more than two percent last year. Expected future sales of the wall clock industry will worsen, the company will continue to consider the integration of branches.
He said that three years ago, the company has seven stores in Causeway Bay, now only two. In the future trends in the industry to reduce branch, does not rule out the possibility of layoffs. (End)

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