SOGO's First Half Sees Growth Across All Branches, Mid-Year Sale to Launch for Summer Business

TAIPEI, June 18 (CNA) -- Far Eastern SOGO General Manager of Operations Wu Su-yin stated that boosted by a bullish stock market driving consumer confidence and strong sales of high-priced items like international luxury goods and cosmetics, the company's overall performance in the first half of this year increased by over 7% year-on-year, achieving growth in all branches across Taiwan. To capture the third-quarter summer business, the mid-year sale, launching on the 23rd, aims for a 6% sales increase.

Far Eastern SOGO Department Stores held a press conference for the mid-year sale today. Wu Su-yin mentioned that luxury goods, cosmetics, and home appliances have performed exceptionally well this year. Luxury goods maintained double-digit growth, with gold items seeing a significant increase of approximately 75%. Cosmetics, after resuming positive growth last year, saw about a 10% increase this year.

She pointed out that the bullish stock market has created a wealth effect, significantly benefiting the sales of high-priced items, including high-end home appliances like massage chairs. Wu Su-yin stated that all seven SOGO stores in Taiwan have seen sales growth this year, and the company hopes to maintain positive growth through the end of June. Even the Garden City at the Taipei Dome, despite not being fully open, has also seen its sales grow.

Xu Shu-hsien, Vice General Manager and Store Manager of Far Eastern SOGO Department Store's Fuxing Branch, said that from April to June last year, sales of high-priced luxury goods, affordable luxury brands, and home appliances were under pressure due to US tariff issues and a significant stock market decline. However, with Hermès and CHANEL upgrading to flagship stores spanning three floors and reopening this year, the luxury customer base has clearly returned.

Xu Shu-hsien stated that since the reopening of international luxury brands in late March this year, related sales have increased by about 30%, with a particularly noticeable rise in customer traffic for CHANEL. Optimistic about the recovery of luxury sales, the Fuxing Branch's mid-year sale performance target is NT$800 million, a 15% increase compared to the same period last year.

Regarding the Zhongxiao Branch, Store Manager Hsiao Shu-ying said that overall performance in the first half of this year exceeded expectations. Although sports brands have been relatively weak, with the growing excitement of the World Cup, the branch is launching World Cup-themed brand pop-up events, combining football and trendy culture to boost sales of sports merchandise. Additionally, the summer home appliance sale and the Japan Fair, along with other major events, will continue to attract customers. (Editor: Yang Lan-hsuan) 0618115

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