Store ran out of fashion with Consumers.. tutup pintu

[virus]

FJ Benjamin -- whose portfolio includes Gap, La Senza and Raoul -- posted a net loss of S$5.0 million for its fiscal third quarter ended March, reversing from a net profit of S$332,000 in the same period last year.

Group revenue decreased marginally by two per cent to S$90.3 million, while gross margins plunged to 39 per cent from 44 per cent.

"This has been a difficult quarter. We expect the outlook for Singapore and North Asia to remain challenging and are taking steps to close underperforming stores in Singapore," CEO Nash Benjamin said in a statement.

FJ Benjamin said lower spending by Indonesian tourists as a result of the depreciation of the rupiah against the Singapore dollar contributed to the dismal performance.

"Singapore, a key market, was particularly hard hit by aggressive industry-wide discounting, escalating rentals and manpower shortages," it said.

China's economic slowdown and curbs on luxury spending continued to suppress sales of luxury watches in North Asia, it added.

http://www.channelnewsasia.com/news/business/singapore/fj-benjamin-to-close-some/1100658.html


what a lie.. manpower shortage has nothing to do with poor sales. it's a fact his product could not move the hearts and pursestring of consumers.

also whatever happens in china has nothing to do with domestic sales.

all these will not be enough to cover his a55 when he report back to HQ.

 

[syed putra]

Actually, thanks to good connectivity due to airasia, indonesians are flocking to KL.

 

[po2wq]

... China's economic slowdown and curbs on luxury spending continued to suppress sales of luxury watches in North Asia, it added ...

dey shud try selling fakes in china ...

 

[Scrooball (clone)]

This guy talking cock. His raoul range is not bad for men clothing. But is overpriced. The fittings are very inconsistent. U can get the same size and same cutting range but it still feels different between designs.

 

[johnny333]

Isn't the Levis store part of their portfolio
It might have been popular in the past but people have moved on.

The cost of doing business in Spore is very expensive. I often wonder why shoppers don't go to places like Bangkok, KL, HK,...

 

[tanwahtiu]

A Chinese saying fortune don't pass 3 generations and so is business and their products cycle.

Still buy their overpriced products then their grandchildren don't have to work and be competitive.

FJ Benjamin -- whose portfolio includes Gap, La Senza and Raoul -- posted a net loss of S$5.0 million for its fiscal third quarter ended March, reversing from a net profit of S$332,000 in the same period last year.

Group revenue decreased marginally by two per cent to S$90.3 million, while gross margins plunged to 39 per cent from 44 per cent.

all these will not be enough to cover his a55 when he report back to HQ.

 

[laksaboy]

"Singapore, a key market, was particularly hard hit by aggressive industry-wide discounting, escalating rentals and manpower shortages," it said.

Quick, let's import more foreigners and hit 8 million population! That'll solve the problem.

 

[GoldenDragon]

A Chinese saying fortune don't pass 3 generations and so is business and their products cycle.

Still buy their overpriced products then their grandchildren don't have to work and be competitive.

Jews are the exception!

 

[JHolmesJr]

Gap has been screwed by uniqlo and raoul by zara.

 

[McDonaldsKid]

Gap and Raoul are ridiculously expensive.

 

[Cestbon]

Isn't the Levis store part of their portfolio
It might have been popular in the past but people have moved on.

The cost of doing business in Spore is very expensive. I often wonder why shoppers don't go to places like Bangkok, KL, HK,...

You just hit the nail.
Shopping in KL,Bangkok or HK is much much cheaper. If you can spend $2k on shopping in these 3 country basically can cover the cost of air ticket/hotel for 3 day because price there are 20~50% cheaper.
Especially optical in Malaysia/Bangkok is very cheap even they use same brand lense normally HOYA/Essilor.

 

[laksaboy]

Where can I get the white cotton singlets with lots of small holes on them? Used to wear that a lot as a kid.

 

[johnny333]

You just hit the nail.
Shopping in KL,Bangkok or HK is much much cheaper. If you can spend $2k on shopping in these 3 country basically can cover the cost of air ticket/hotel for 3 day because price there are 20~50% cheaper.
Especially optical in Malaysia/Bangkok is very cheap even they use same brand lense normally HOYA/Essilor.

For Sporeans you will also get a VAT refunds in LOS. I got mine for buying a pair of glasses with HOYA lenses

 

[gongkia]

Where can I get the white cotton singlets with lots of small holes on them? Used to wear that a lot as a kid.

taobao.com

 

[virus]

Where can I get the white cotton singlets with lots of small holes on them? Used to wear that a lot as a kid.

Mistafar b1. They still sell them but i prefer those with titanium silver that is anti odor.

 

[scroobal]

Whatever high end fashions goods that are available in Singapore are also available in Jarkarta. Its is also cheaper. Why would they come here. The Indonesians that patronise the store are residents here. They might as well buy it when they visit their country.

When I comes to FJ Benjamin I would not worry. If there is a loss in the business something else is going on.And they will come out of it good in the end. These guys are a legend. They are also famous for hiring models for being hostesses and dinner companions for their guests. That tells you how far they will go.