Daphne books third-quarter sales rise

CHINA: Daphne books third-quarter sales rise

By Katie Smith | 15 October 2012

Women's footwear retailer Daphne International Holdings has booked a rise in third-quarter same-store sales on the back of increased sales volume.

Same-store sales rose 5% for the three months ended 30 September despite "softening" demand in China. The increase was primarily driven by double-digit growth in sales volume, the company said in its trading update.

Daphne's inventory level improved during the period as customers responded well to the retailer's spring and summer clearance programme.

However, aggressive promotional efforts resulted in a lower blended average selling price, which weighed on the company's margins and led to an unfavourable product mix.

Sectors: Apparel, Retail