0.69-0.01 (-1.43%)
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Prev Close0.70
Bid0.68 x
Ask0.69 x
52wk Range0.64 - 1.42
Day's Range0.68 - 0.70
Avg Vol (3m)1,541,847
As of 3:59 AM EDT. Market closed.
  • Bloomberg11 months ago

    China Attacking Graft Hits Department Store Owner's Gift Cards

    China’s almost three-year long  crackdown on official corruption has taken down high-ranking "tigers", swatted low-level "flies", and curbed sales of Swiss watches and high-end liquor. “Since the new leadership two years ago and the crackdown to control the gift-giving culture, gift cards are no longer popular,” Parkson Chief Executive Officer  Shaun Chong Sui Hiong said in a recent interview. Gift cards as a portion of Parkson’s Beijing store sales fell to 30 percent in mid-2015, from 40 percent in 2012, and to about 12 percent from 16 percent nation-wide, according to Chong.

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