Parkson Retail Group Limited provided consolidated earnings guidance for the third quarter and nine months ended 30 September 2015. Based on a preliminary assessment on the unaudited consolidated management accounts of the company, its subsidiaries, a joint venture and an associated company, the board of directors of the company expects to record a loss attributable to equity holders of the company for both the quarter ended 30 September 2015 and the nine months period ended 30 September 2015 as compared to a profit attributable to equity holders recorded for the corresponding period in 2014. Such loss was mainly attributable to increasingly competitive landscape of the retail sector which has led to drops in both sales and gross profit; a one-off provision made in the first quarter of 2015 in respect of the arbitral award arising from the disputes on the Beijing Metro City Shopping Plaza's Tenancy Agreement as disclosed in the announcement of the company dated 31 March 2015 which amounted to RMB 140.9 million; and cost incurred by new stores during their ramp up period.