Sitoy Group to Swing to Loss in Fiscal H1; Shares Slide 7%

MT NewswiresNov 27 11:53

Era Group (01023.HK) terminates COLE HAAN distribution agreement, warns of performance turning into a loss.

Sitoy Group Holdings (01023.HK) issued a profit warning, expecting to record a loss for the six months ending December compared to a profit of 53.55 million yuan in the same period last year. The one-time significant loss from terminating the Cole Haan business mainly arises from the write-off of certain inventory and losses from capital expenditures of stores, compensation for terminating related employee contracts, and final payments made to Cole Haan. The company has terminated the distribution and trademark license agreement for 'COLE HAAN', and must pay 7 million US dollars to Cole Haan for full and final settlement.

AASTOCKSNov 27 01:22

Sitoy Group (01023.HK) expects to report a loss attributable to owners for the interim period.

Gelonghui, November 26th丨Sitoy Group (01023.HK) announced that due to the termination of the Cole Haan business, the group expects to record a loss attributable to the company owners for the six months ending December 31, 2024, while in the same period of 2023, there was a profit attributable to the company owners of approximately 53,554,000 HKD. The reason is the write-off of certain Cole Haan inventory and losses incurred from Cole Haan store capital expenditure, compensation for terminating related employee contracts, and the final payment made to Cole Haan. It is estimated that the termination of the Cole Haan business will

Gelonghui FinanceNov 26 19:08

Sitoy Group Ends Cole Haan Deal Amid Losses

TipRanksNov 26 19:07

SITOY GROUP: BUSINESS UPDATE AND PROFIT WARNING

HKEXNov 26 19:02 · Announcements

Sitoy Group Announces AGM Outcomes and Leadership Changes

TipRanksNov 18 19:39