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Parkson Retail's profit drop 4.9% in Q1

May. 17, 2012 (China Knowledge) – Parkson Retail Group Led<3368>, a Beijing-based department store chain controlled by Malaysia's Lion Group, announced yesterday that its net profit attributed to shareholders for Q1 2012 reached RMB 312 million, fell 4.9% YoY.

In a statement filed with Hong Kong Stock Exchange, the retailer saw its sales for Q1 2012 grew 6.5% YoY to RMB 4.87 billion.

The sales of fashion and apparels accounted for 47.4% of the total sales; while the sales of cosmetic and accessories, groceries and perishables and household, electrical goods and others accounted for 41.3%, 6.8% and 4.5%, respectively.

The retailer saw its inventory decreased 1.24% YoY to RMB 275 million in Q1.

In 2011, Parkson Retail Group booked RMB 1.12 billion in net profit attributed to shareholders, up13.2% than a year earlier, China Knowledge reported earlier.

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