Given the challenging situation, it will be difficult for Parkson to turn around in the near term.
Owing to a sluggish economy, weak consumer sentiment, and intensifying competition from e-commerce, no-moat Parkson saw a 9.7% year-over-year decline in same-store sales and a 12.0% year-over-year drop in gross sales proceeds (including value-added taxes) in first-half 2016. The firm reported a net loss of CNY 124.2 million during the period, a large decline relative to a loss of CNY 23.3 million a year ago, which includes a one-off litigation loss of CNY 140.9 million. Of its 58 stores, 26 were...Parkson Retail Group is engaged in the operation and management of a network of department stores in the People's Republic of China (PRC). Co. provides a range of fashion and lifestyle related merchandises focusing on four main categories of merchandise namely, fashion and apparel; cosmetics and accessories; household and electrical; and groceries and perishables, targeting the young and contemporary market. Through its subsidiaries, Co. is also engaged in investment holding; the provision of consultancy and management services; and property management. As of Dec 31 2014, Co. operated and managed 60 stores across 36 cities in the PRC.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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