Sincere to close Central department store after 126 years as lease expires

Hong Kong’s first Chinese-owned department store, Sincere, will close its historic branch in the city’s central business district in December after 126 years of retail history. The company revealed, however, that it would seek a new location in Central or Sheung Wan. Economists cautioned, however, that despite strong retail sales in the city overall recently, the market had changed, and running physical stores had become highly challenging. Sincere announced on Sunday that the flagship store...