Retail in Asia

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China’s Zhejiang Semir Garment posts weak earnings

Another influential Chinese retailer has posted a drop in earnings.

Shenzhen-listed Zhejiang Semir Garment, led by billioniaire Qiu Guanghe,  said net profit in the three months to January fell by 39 percent from a year earlier to USD25 million.

Last month, footwear retailer Pou Sheng said it expected to report a six-month loss.

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