Daphne International Holdings Limited announced sales results for the fourth quarter and year ended 31 December 2017. The group's Core Brands business recorded a high-single-digit percentage decline in its year-on-year same-store sales for the fourth quarter of 2017, which was mostly driven by the decline in average selling price. The deceleration of the decline in the fourth quarter was mainly attributable to the enhanced and well-received product design and product portfolio for the autumn season, as well as the improved sales efficiency.

Overall, the year-on-year same-store sales for the year ended 31 December 2017 decreased by 12.4%.

Based on a preliminary review of the unaudited consolidated management accounts and the information currently available, the Board informed the shareholders of the company and potential investors that, for the year ended 31 December 2017, the group expects to report a net loss, however, the operating loss would be narrowed when compared to that of the previous year.