Lifestyle International, Hong Kong's top department store operator by market value, on Tuesday said it saw slight growth in same-store sales in May, better than it previously expected.
''The performance was not as bad as expected,'' Eliza Lo, general manager, told Reuters in an interiew. ''We saw a slight (same-store sales) growth in May thanks to double-digit growth in same-store sales in China last month.'' Last month, the company said it expected to see negative growth in May, on fears of the spread if the new H1N1 influenza virus and tracking negative growth in March prior to recording positive growth in April.
Lifestyle, which operates two SOGO department stores in Hong Kong and Jiuguang department stores in Shanghai, Suzhou and Dalian on ther mainland, in March posted a 9.5 percent year-on-year drop in 2008 profit to HK$927.23 million (US$118.9 million) as the global financial crisis hit sales.