Hong Kong’s cosmetics retailer Sa Sa warns of record loss as coronavirus outbreak and protests reduce mainland shoppers to a trickle

Hong Kong’s biggest cosmetics retailer Sa Sa International said it is preparing for its biggest ever annual loss as the coronavirus pandemic and anti-government protests reduced tourist arrivals to a trickle, damaging sales.The beleaguered retailer said it could incur HK$500 million (US$64.5 million) to HK$600 million loss in the year ended March 31, according to a profit warning in an exchange filing late Tuesday, versus a HK$471 million profit a year earlier. It cited a decline in tourist…

from South China Morning Post https://bit.ly/2L6zrHv