SINGAPORE (June 28): Second Chance Properties reported a 61.6% fall in 2Q net profit to S$2.1 million, from S$5.4 million a year ago, on lower sales.

Revenue for the three months ended May closed 3.2% higher at S$9.7 million, but cost of sales rose 10.8% to S$4.9 million. This resulted in gross profit falling 3.6% to S$4.8 million.

Second Chance says its apparel business continues to be affected by increasing trend of online sales, as well as poor consumer spending. To prevent future losses, four more stores will be closed this year, leaving only one First Lady Store in...(click on link for full story on theedgesingapore.com)