Sogo to relocate Tsim Sha Tsui store to Kai Tak
What: Due to the expiry of its lease, Sogo department store Tsim Sha Tsui branch will have its door closing down on March 12 and relocate to Kai Tak.
Why it is important: Sogo has been facing a decline in business turnover since 2019, noting that the overall sales volume of the TST outlet saw a plummet of 22% last year.
The Causeway Bay store will operate as usual, and the to-be-established Kai Tak store will start trial operation by the end of the year.
"We are worried that the Chinese visitors brought by the restored travels between Hong Kong and the mainland may not be able to bring a significant boost to the wholesale industry in Hong Kong in the short term," said Lifestyle today.