Hypebeast Retail Sales Plunge
Hypebeast’s “HBX” e-commerce and retail revenues dropped 48% to HK$ 81,880,000 ($10.5 mm) in the fiscal first half that ended Sep. 30 from HK$ 156,896,000 a year ago, driven by management efforts to right-size the segment and inventory levels. Sales to the U.S. were also roughly halved to HK$ 18,659,000 ($2.4 mm). Though there were more promotions and discounts this year, gross margin contracted just 30 basis points to 33.9%, but the segment still ... Log in to view full article.
