9 – Bouncing back: A.S. Watson’s China business sees improvement following COVID-19 outbreak
In March, health and beauty retailer A.S. Watson has observed a strong recovery in China after over a month of store closures due to the novel coronavirus (COVID-19) outbreak.
Last year, the Hong Kong-based company and subsidiary of C.K. Hutchinson, increased its Watsons store numbers in China by 9%, bringing up the total number of outlets to 3,947 in 483 cities.
When the COVID-19 outbreak started in January, the company saw its business quickly affected as cities came to a standstill.
At its peak, some 2,500 stores, which make up 64% of its total force, remained closed for over a month. Store traffic dropped about 90% which led to sales plummeting by 80%.
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