Author Topic: Parkson Vietnam shutters store  (Read 2059 times)

Offline eye-hub

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Parkson Vietnam shutters store
« on: May 18, 2016, 04:37:46 PM »
Parkson Vietnam shutters store

Parkson shutters outlet in expat-populated area of Ho Chi Minh City


People relocate booths at Parkson Paragon in Ho Chi Minh City on May 16, 2016.


An outlet of Malaysian department store operator Parkson, situated in a luxurious urban area of Ho Chi Minh City, closed due to poor performance on Monday, five years after it opened.
Thuy Duong Co. Ltd., the operator of Parkson Paragon in District 7, said the store had been shut down and relocated, adding that all of its partners had been notified of the move two months in advance.
The company said the closing and relocation will not affect the business of other Parkson outlets in Vietnam. Membership cards signed up at Parkson Paragon remain valid within the store chain, it added.
Situated on Nguyen Luong Bang Street in the Phu My Hung urban area, the Parkson Paragon building was previously named Saigon Paragon, a trade center managed by Paragon Corporation, and owned by two Vietnamese moguls.
In April 2011, Malaysia’s Parkson took over the management of the facility under a 19-year contract, and renamed it Parkson Paragon, hoping to attract wealthy shoppers in the expat-populated area.
The opening of the outlet in District 7 was at the time seen as a big step by the Malaysian retailer in exploring the Vietnamese market.
In January 2015, Parkson Vietnam also shut down its store at the 72-story Keangnam Hanoi Landmark Tower in Hanoi, after sales slipped behind targets.
Parkson, headquartered in the Malaysian state of Selangor, boasted a network of 123 stores as of January 31, 2015, according to its website. Parkson has 41 stores in Malaysia and is also present in big cities in China, Vietnam, Indonesia, Myanmar, and Sri Lanka.
Following the closure of Parkson Paragon, the chain has eight remaining stores in Vietnam, including five in Ho Chi Minh City, and one each in the northern city of Hai Phong, Hanoi and the central city of Da Nang.

"Price is the most important factor to use in relation to value."  - Walter Schloss

Offline zuolun

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Re: Parkson Vietnam shutters store
« Reply #1 on: June 06, 2016, 08:29:38 AM »
Parkson hit by online sales ~ 4 Jun 2016
http://www.thestar.com.my/business/business-news/2016/06/04/parkson-hit-by-online-sales/

PRG diversifies businesses in China amid slower economic growth ~ 4 Jun 2016
http://www.thestar.com.my/business/business-news/2016/06/04/prg-diversifies-businesses-in-china-amid-slower-economic-growth/

Parkson Holdings Berhad - Rising Costs

PublicInvest Research
Wed, 1 Jun 2016, 10:24 AM

Parkson (PHB) reported 9MFY16 revenue of RM3.0bn, up 7.7% YoY. However, Parkson recorded 3QFY16 net loss of RM25.5m while cumulative 9MFY16 net profit was RM6.3m. Excluding one-off gain from partial disposal of Parkson Hanoi, which amounted to RM136.3m, core net loss for 9MFY16 stood at RM130.0m. We forecast a net loss of RM74m while consensus estimates RM59m net profit for FY16F. The weak performance was mainly due to higher operating cost, as staff and rental costs jumped 27% and 12% YoY respectively. We maintain our Neutral view on Parkson with TP of RM0.88, pegged to 14x multiple of our FY17F EPS.

Southeast Asia. Malaysia reported lower revenue for 3QFY16 (-9.3% YoY), on the back of a higher base as 3QFY15 was supported by pre-GST shopping spree. The segment saw negative same store sales growth (SSSG) (-13.5%) for 9MFY16, which was also due to prolonged weak consumer sentiment (Consumer Sentiment Index for 1QCY16: 72.9points) as business remains challenging in the region. 9MFY16 operating profit thus suffered a decline of 66.6% as operating expenses remain elevated in view of stores transformation and branding efforts’ costs. Vietnam and Myanmar operations also posted weaker 9MFY16 SSSG (Vietnam: -2.6%, Myanmar: -2.6%) attributed to tough retail landscape and stiff competition. Indonesia results was slightly better as 9MFY16 revenue grew by 16.0% YoY, supported by positive SSSG (+3.8%) and strong consumer confidence. However, at operating level, Indonesia recorded loss of RM12.5m for 9MFY16 due to new stores’ costs.

China. Though China operations continues to record improvement in sales (3QFY16: +1.4% YoY to RM713.3m, 9MFY16: +8.0% YoY to RM2.0bn), margins remain under pressure due to high operational costs incurred, especially as Parkson keeps its focus on revamping stores, enhancing brand and loyalty, and offering promotions to entice consumers to spend. Operating expenses grew at higher rate (+ 18% YoY) compared to sales, resulting in operating loss of RM48.9m for the segment. Increasing competition especially from online platforms remains one of the challenges for growth. Merchandise mix continues to improve, as Fashion & Apparel and Cosmetics & Accessories segments made up of 91.1% of total merchandise sales for 3QFY16 (9MFY15: 90.7%).

Moody's downgrades Parkson to B2; outlook negative ~ 26 Feb 2016
https://www.moodys.com/research/Moodys-downgrades-Parkson-to-B2-outlook-negative--PR_344480

馬太效應(Matthew Effect):強者愈強、弱者愈弱。 ~ When a stock is in a bear-market territory, the last low will be retested and the share price will move much further down, forming a new record low. In technical analysis, a stock that has made a new low is one that must be treated with caution and to be avoided buying for longterm investment.

Parkson (5657) ~ Head and shoulders breakout, biased to the downside, Interim TP RM0.75

Parkson closed with a white marubozu @ RM0.86 (+0.01, +1.2%) with 420,000 shares done on 3 Jun 2016.

Immediate support @ RM0.82, immediate resistance @ RM0.865 (neckline-support-turned-resistance).



Parkson (5657) — Classic "mushroom-of-death"

Parkson closed with a bullish engulfing candlestick pattern @ RM 2.56 with 2.88 million shares done on 17 Oct 2014.


Offline zuolun

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Re: Parkson Vietnam shutters store
« Reply #2 on: June 11, 2016, 06:39:44 PM »
Parkson’s decline a sign of the times for retail stores ~ 11 Jun 2016
http://www.thestar.com.my/business/business-news/2016/06/11/parksons-decline-a-sign-of-the-times-for-retail-stores/

Stiff competiton: File picture showing workers sorting out packages at an express delivery company in Beijing. Like many other traditional retail stores, Parkson has no answer to the rapid rise of e-commerce. Apart from AliBaba, there are many other websites that cater to e-shoppers. – AFP



JD.com launches drone delivery in rural Jiangsu ~ 8 Jun 2016
http://news.xinhuanet.com/english/2016-06/08/c_135423101.htm



JD.com for the first time used its self-developed drones to deliver online purchases made by villagers in Suqian city of East China's Jiangsu province. JD staffer Liu Genxi, pictured, sends the packages to village shoppers after collecting the delivery from a drone.


Offline CurryLee

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Re: Parkson Vietnam shutters store
« Reply #3 on: June 11, 2016, 09:00:02 PM »
Tis parkson very strange....no ren qi. Shud change name to Parkinson..like robinson...then maybe more ong!   :nod:
malimalimaliongongongnotongchefbutishua thuatong

Offline zuolun

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Re: Parkson Vietnam shutters store
« Reply #4 on: July 19, 2016, 06:30:12 AM »
屋漏偏逢连夜雨,船迟又遇打头风。

Court orders Parkson Retail units’ bank deposits be frozen ~ 19 July 2016
http://www.thestar.com.my/business/business-news/2016/07/19/court-orders-parkson-retail-units-bank-deposits-be-frozen/

Parkson Retail Asia: SGX extends MTP review to September ~ 3 Jun 2016
http://www.todayonline.com/business/sgx-extends-mtp-review-13-companies-september


Offline zuolun

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Re: Parkson Vietnam shutters store
« Reply #5 on: July 19, 2016, 10:12:38 PM »
钟廷森中国百货公司惹官司 ~ 19 Jul 2016
https://www.youtube.com/watch?v=wZ7RLosnSPE

Offline Ļaughing Ģor

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Re: Parkson Vietnam shutters store
« Reply #6 on: July 19, 2016, 10:15:31 PM »
William will go brankrupt very soon.
Can someone to give me a Loan and then leave me Alone?

Offline zuolun

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Re: Parkson Vietnam shutters store
« Reply #7 on: October 19, 2016, 09:02:37 AM »
Parkson Retail signs equity transfer agreement with Zriver ~ 10 Oct 2016
http://www.reuters.com/article/idUSFWN1CJ0AE

Fitch: Parkson's sale of loss-making Beijing store cuts leverage ~ 22 Sep 2016
http://www.reuters.com/article/idUSFit973307

Will freezing new mall licences solve Malaysia’s impending retail problems? ~ 19 Sep 2016
http://www.marketing-interactive.com/will-freezing-new-mall-licences-solve-impending-retail-problems/



Parkson Retail soars 45% after selling Beijing department store for $250 million ~ 13 Sep 2016
http://blogs.barrons.com/asiastocks/2016/09/13/parkson-retail-soars-45-after-selling-beijing-department-store-for-25-billion/

A 2011 file photo of a Parkson's outlet in Beijing.



Top 9 most surreal abandoned shopping malls in United States
http://www.technocrazed.com/top-9-most-surreal-abandoned-shopping-malls-in-united-states


























Offline moonsun

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Re: Parkson Vietnam shutters store
« Reply #8 on: November 08, 2016, 03:57:53 PM »
ngay gần chỗ mình ở, nó thật sự rất đẹp

Offline zuolun

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Re: Parkson Vietnam shutters store
« Reply #9 on: May 25, 2017, 09:26:51 AM »
Parkson’s cost management, new business model pay off

PublicInvest Research/The Edge Financial Daily
May 22, 2017 09:56 am MYT

Parkson Holdings Bhd
(May 19, 63 sen)

Maintain neutral with a target price (TP) of 75 sen: Parkson Retail Group (PRG), Parkson Holdings Bhd’s (PHB) China operations reported its first quarter financial year 2017 (1QFY17) net earnings of 1.1 million yuan, an encouraging improvement compared to 1QFY16’s core net loss of 17.1 million yuan (RM690,400). Revenue grew marginally by 0.7% year-on-year (y-o-y) to 1.14 billion yuan. The positive net earnings were attributed to both higher rental income and reduction of total operating expenses due to cost management efforts. We are pleased with the signs of PRG’s new business model working out and resulting in turnaround, thus we keep our earnings estimates and retain our “neutral” call. Though our sum of parts-based TP of 75 sen implies potential upside, we remain cautiously optimistic at this juncture as its primary retail operation was still sluggish for this quarter but offset by gaining higher rental income from Qingdao Lion Mall contributions. In the longer term, we look forward for new stores and business ventures to strengthen PRG’s financials.

PRG reported a decline of 5.6% y-o-y for its 1QFY17 gross sales proceeds, mainly due to stiff competition and impact of 2016 store closures. Same-store sales growth too declined by 2.2% for this quarter. Despite that, operating profit more than doubled y-o-y to 31.2 million yuan (from 14.9 million yuan in 1QFY16), due to higher rental income contributed by Qingdao Lion Mall (+0.9%), decrease in total operating expenses (-7.4% at group level and -4.7% on a same-store basis) due to cost control measures. The group also closed one underperforming store in 1QFY17, in line with its focus to improve its store operation efficiency.

We continue to note positive changes in PRG’s merchandise sales mix. 1QFY17 direct sales made up 15.4% of total merchandise sales (1QFY16: 12.9%, 1QFY15: 10.9%). On product mix, contribution from the fashion and apparel and cosmetic and accessories segments were consistent at 91.1% for 1QFY17 and 1QFY16. — PublicInvest Research, May 19

Parkson’s transformation may bear fruit in next 2 years ~ 3 May 2016
http://www.theedgemarkets.com/article/parkson%E2%80%99s-transformation-may-bear-fruit-next-2-years


Offline zuolun

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Re: Parkson Vietnam shutters store
« Reply #10 on: December 31, 2017, 12:02:12 PM »
Inside Alibaba's smart warehouse staffed by robots ~ 20 Sep 2017
https://www.youtube.com/watch?v=FBl4Y55V2Z4

Take a tour of a Hema supermarket and experience "new retail" ~ 16 Jul 2017
https://www.youtube.com/watch?v=XNt18b5hOVE

PARKSON (5657) ~ Double Bottom

PARKSON closed with a doji unchanged @ RM0.515 with 543,400 shares done on 29 Dec 2017.

Immediate support @ RM0.505, immediate resistance @ RM0.53.



PARKSON (5657) ~ Fall off the cliff

PARKSON closed with an inverted hammer unchanged @ RM0.64 with 810,000 shares done on 24 May 2017.

Immediate support @ RM0.615, immediate resistance @ RM0.65.


Offline zuolun

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Re: Parkson Vietnam shutters store
« Reply #11 on: November 11, 2018, 04:13:08 PM »
曲終人散……
https://www.youtube.com/watch?v=OfpWrDHPAcA

可惜不是你,陪我到最后,曾一起走却走失那路口……
https://www.youtube.com/watch?v=k_l7FVsqUyM

Parkson (5657) ~ Bearish Double Top Breakout, interim TP RM0.22

Parkson closed with a dragonfly doji @ RM0.34 (+0.005, +1.5%) with 190,000 shares done on 9 Nov 2018.

Immediate support @ RM0.32, immediate resistance @ RM0.36.



Parkson (16 Mar 2009 to 26 May 2014) — A "Stair-Step" Decline Chart Pattern


Offline zuolun

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Re: Parkson Vietnam shutters store
« Reply #12 on: February 27, 2019, 10:15:03 AM »
Parkson continues to bleed with RM37.57m net loss in 2QFY19 ~ 26 Feb 2019
http://www.theedgemarkets.com/article/parkson-continues-bleed-2q-regional-sales-decline
Parkson closed at RM0.235 on 26 Feb 2019, giving a market capitalisation of RM250.79m.

Parkson (5657) ~ Trading in a rectangle

Parkson closed with a hammer @ RM0.235 (-0.005, -2.1%) with 620,000 shares done on 26 Feb 2019.

Immediate support @ RM0.225, immediate resistance @ RM0.25.


Offline lim_90

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Re: Parkson Vietnam shutters store
« Reply #13 on: February 27, 2019, 11:16:14 AM »
KUALA LUMPUR: Parkson Holdings Bhd continued to record losses despite improvements in its Malaysian retailing operations, with net loss widening to RM37.57 million for the second quarter ended Dec 31, 2018 (2QFY19), from RM13.87 million for the year-ago quarter.

This is notwithstanding the group having largely held its revenue steady at RM1.05 billion, which is just a marginal 1% less from the last corresponding quarter’s RM1.06 billion.

The weaker 2QFY19 pushed Parkson’s cumulative net loss for the first half of FY19 (1HFY19) to RM80.58 million, 40.4% more than the RM57.40 million it recorded for 1HFY18, while revenue slipped 0.2% to RM1.978 billion from RM1.981 billion.
Parkson’s exchange filing yesterday showed that savings arising from rationalisation of stores and improved operating efficiencies in Malaysia have resulted in operating loss narrowing considerably to RM1 million for 1HFY19, from RM15 million for the same period a year ago.

The closure and downsizing of its underperforming stores over the years also helped lower operating loss in Indonesia, which recorded a slight decline in same-store sales (SSS) of 0.2% for the period.

However, this was offset by lower operating profit recorded for its China operations, mainly because SSS declined 3%, while its Myanmar and Vietnam divisions recorded higher operating loss of RM12 million due to Vietnam's ops registering an 18% decline in SSS, and the closure of Parkson’s only store in Myanmar as well as one store in Vietnam.

Going forward, Parkson expects its retailing division to benefit from the seasonally higher consumer spending during the Chinese New Year festivities in February.

Offline bobianlah

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Re: Parkson Vietnam shutters store
« Reply #14 on: February 27, 2019, 11:58:58 AM »
KUALA LUMPUR: Parkson Holdings Bhd fell deeper into the red in the October-December quarter, amid slowing retail growth in China - the company’s biggest market.

The retailer, which is closing down its flagship store at Suria KLCC on Feb 28, said on-going rationalisation of its stores will put the company in a better financial position going forward.

Over the past six months, Parkson has closed down one store each in China, Vietnam and Myanmar.

Offline larry_liang

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Re: Parkson Vietnam shutters store
« Reply #15 on: February 27, 2019, 12:06:11 PM »
Parkson Retail Group Limited
HKG: 3368
0.73 HKD +0.0100 (1.39%)
27 Feb, 11:47 am GMT+8
Open   0.72
High   0.74
Low   0.72