NEW YORK — Hong Kong-based Dickson Concepts Ltd. posted better than eightfold increases for the six months ended Sept. 30.
For the first half, the luxury distribution and retailing firm reported net income of $7.1 million compared with $866,000 in the year-ago period. Included in the latest result is a nonoperating pretax gain of $5.6 million. Excluding the gain, income would have risen 64.5 percent
Sales in the first half were up 11.2 percent to $148.5 million from $133.6 million.
Dickson has opened 62 shops and corners during the fiscal year to date and expects to open another 23 before the end of the fiscal year in March.
Store opening highlights in Hong Kong include a Brooks Bros. boutique at Times Square, at Causeway Bay, and the largest Bulgari store in the South Pacific region, a 3,500-square-foot unit opened in November at Chater House.
The company opened 12 new shops in Taiwan under nameplates including Polo Ralph Lauren, Polo Jeans Co., Dickson Watch and Jewellery, Benetton, Sisley and The Hip Site.
A total of four new shops and corners will open before fiscal yearend.
In China, the firm opened 34 Polo Ralph Lauren, Polo Jeans Co. and S.T. Dupont stores. A second Seibu department store was opened in Shenzhen. In addition to the first Seibu Department store in China, Dickson Concepts also operates two Seibu stores in Hong Kong.
Dickson operates 365 units, including 61 shops and corners in Hong Kong, 156 in Taiwan, 25 in Singapore, 19 in Malaysia, 10 in the Philippines and 94 in China. At the end of the fiscal year, it will operate a total of 385 shops and corners throughout Southeast Asia and China.
This story first appeared in the December 23, 2002 issue of WWD. Subscribe Today.