Whopping 1HCY10 SSS growth for Malaysia. We understand that 1H CY10 Same Store Sales (SSS) growth for Malaysia was at a phenomenal 17%, while the momentum is expected to carry on to the 2H CY10. Together with 1HFY10 SSS growth of 7%, this will bring full year FY06/10 SSS growth to approximately 11-12%, which is a lot higher than
management’s guidance and our forecast of 4-5% and 4% respectively. We are thus adjusting our SSS growth assumption for Malaysia in FY06/10 to 10% (to be on the conservative side), from 4% previously, while we are leaving SSS growth assumptions for FY11-12 unchanged at 5% p.a. With regards to new store openings, Parkson opened 3 stores in FY06/10, which is above our previous assumption of 2 stores
Parkson Holdings Berhad : Encouraging Growth - 19/08/2010
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