No chance of recovery for Hong Kong’s stricken retail sector this year, says operator of Sogo department stores

Hong Kong’s battered retail sector has no hope of recovering in the rest of 2020, according to Lifestyle International Holdings, the operator of the city’s biggest Japanese-style department store chain.The Covid-19 pandemic and the ensuing economic fallout will continue to weigh heavily on consumer sentiment and inbound tourism in the second half, said Lau Kam-shim, executive director of Lifestyle, which runs the Sogo stores in Causeway Bay and Tsim Sha Tsui.“We maintain a deeply pessimistic…

Read the original article at South China Morning Post