Jiumaojiu Says Brands Deliver 'Steady Improvement' in Q4

MT Newswires Live01-12

Jiumaojiu International (HKG:9922) said its brands delivered "steady improvement" in operating performance during the fourth quarter of the year, according to a Friday Hong Kong bourse filing.

Shares of the firm were up more than 2% in Monday morning trade.

Same-store sales at Tai Er fell 3% from a year earlier, while Song Hot Pot and Jiu Mao Jiu recorded declines of 19% and 16.4%, respectively.

During the period, stores operating under the so-called "Fresh" model delivered "particularly strong results," the firm said. Jiumaojiu said a total of 243 stores had adopted the model which focuses on live fish, fresh chicken, and fresh beef.

"The company believes that, with the continued refinement of these new-model stores, the progressive rollout of the model, and subsequent promotion, the same-store operating performance of the relevant brands is expected to improve steadily," Jiumaojiu said.

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