Jiumaojiu International's Major Brands See Lower Same-Store Sales in Q4

MT Newswires Live

Jan 17, 2025

Jiumaojiu International's (HKG:9922) major brands saw a substantial decline in same-store sales for the fourth quarter of 2024.

The company's brand Tai Er saw a 24.6% year-on-year decline in same-store average daily sales, Song Hot Pot saw a 26.9% decline and Jiu Mao Jiu recorded a year-on-year decline of 18.5%, a Friday Hong Kong bourse filing said.

Tai Er's self-operated branches saw an average spending per customer of 72 yuan, Song Hot Pot recorded 99 yuan, and the numbers came in as 54 yuan for Jiu Mao Jiu for the three months ended Dec. 31, 2024.

The rate of table turnover during the reporting period for its brands stood at, 3.0 for Tai Er's self-operated branches, 2.7 for Song Hot Pot, and 2.4 for Jiu Mao Jiu.

For the period under review, the company held a total of 807 restaurants under its six brands in the fourth quarter of 2024, with an overall 697 self-operated restaurants and 28 franchised ones.

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