I.T Q1 comparable store sales grow in double digits

I.T Limited announced its first quarterly results of the

fiscal that ended 31 May 2012. Macro-economic environment in both Hong Kong and Mainland China have stayed sluggish in the first quarter FY12/13. Despite challenges, the company achieved double-digit comparable store sales growth in two key operating markets like Hong Kong and Mainland China. The company reported a growth of 10.1 percent in comparable store sales in Hong Kong whereas it grew by 14.4 percent in Mainland China. In Japan, it recorded a growth of 14.5 percent.

Nevertheless, the additional promotional activities with attractive discount offers launched have led to a decline in gross profit margin as compared to same period last year. In Hong Kong, the gross profit margin declined by -0.7 percent while it fell by -5.3 percent in Mainland China. However, in Japan it grew by 5.1 percent.

I.T Limited, an investment holding company, engages in retailing and trading fashion wears and accessories. It operates primarily in Hong Kong, Mainland China, and Japan. I.T Limited was founded in 1988 and is headquartered in Wong Chuk Hang, Hong Kong.