The drop in earnings and revenue was attributed to economic uncertainties resulting from rising interest rates, the weakening of some Southeast Asian currencies against the Singdollar, as well as operational disruptions from the expansion and renovation of outlets in Malaysia and Thailand.
Watch retailer Cortina
Cortina’s revenue for 1HFY2024 was also down 3.8% y-o-y to $391.3 million, while its cost of purchasing goods and consumables stayed flat at $287.9 million for the period.
