Far Eastern Sogo Department Store (遠東SOGO) yesterday said that it would receive a boost in revenue later this year with the partial opening of its retail spaces next to the Taipei Dome (大巨蛋) complex.
Sogo Department Store chairwoman Sophia Huang (黃晴雯) shared the news at the company’s annual general meeting in Taipei, where shareholders approved a plan to distribute a cash dividend of NT$1.26 per share based on last year’s earnings per share of NT$1.69.
SIZE OF THREE STORES
Photo: Lee Jung-ping, Taipei Times
Huang said the “D” section of the new project called Sogo City might start operations in September, along with the Taipei Dome’s soft opening.
The company announced in June last year that it would run the mixed-use complex, which has four sections and a total floor space of 38,000 ping (125,620m2) next to the Taipei Dome.
Sogo City is as large as the three existing Sogo department stores on Zhongxiao E Road, Fuxing S Road and Dunhua S Road combined, Huang said.
Business recruitment was proceeding smoothly and 14 restaurant brands have agreed to open branches in the D section, Huang said, adding that all four sections could begin operating in the first quarter of 2025 and generate an extra NT$10 billion (US$325.52 million) in annual revenue.
LINK BETWEEN DISTRICTS
Sogo City would link Taipei’s Xinyi District (信義) and Daan District (大安), and aims to inject a healthy dose of vitality into the latter, Huang said.
Toward that end, it might have longer operating hours, in conjunction with the 24-hour Eslite Book Store that is to open at Songshan Cultural and Creative Park (松山文創園區), she said, not committing to a 24-hour operation model.
The lease for Sogo Department Store’s relatively small branch on Dunhua S Road is to expire in 2025 and the company has no intention of moving it elsewhere, Huang said, adding that it would invite partners to join Sogo City — her top priority for the time being.
TRADE WAR: Tariffs should also apply to any goods that pass through the new Beijing-funded port in Chancay, Peru, an adviser to US president-elect Donald Trump said A veteran adviser to US president-elect Donald Trump is proposing that the 60 percent tariffs that Trump vowed to impose on Chinese goods also apply to goods from any country that pass through a new port that Beijing has built in Peru. The duties should apply to goods from China or countries in South America that pass through the new deep-water port Chancay, a town 60km north of Lima, said Mauricio Claver-Carone, an adviser to the Trump transition team who served as senior director for the western hemisphere on the White House National Security Council in his first administration. “Any product going
TECH SECURITY: The deal assures that ‘some of the most sought-after technology on the planet’ returns to the US, US Secretary of Commerce Gina Raimondo said The administration of US President Joe Biden finalized its CHIPS Act incentive awards for Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), marking a major milestone for a program meant to bring semiconductor production back to US soil. TSMC would get US$6.6 billion in grants as part of the contract, the US Department of Commerce said in a statement yesterday. Though the amount was disclosed earlier this year as part of a preliminary agreement, the deal is now legally binding — making it the first major CHIPS Act award to reach this stage. The chipmaker, which is also taking up to US$5 billion
High above the sparkling surface of the Athens coastline, the cranes for building the 50-floor luxury tower centerpiece of Greece’s future “smart city” look out over the Saronic Gulf. At their feet, construction machinery stirs up dust. Its backers say the 8 billion euro (US$8.43 billion) project financed by private funds is a symbol of Greece’s renaissance after the years of financial stagnation that saw investors flee the country. However, critics see it more as a future “ghetto for the rich.” It is hard to imagine that 10km from the Acropolis, a new city “three times the size of Monaco”
STRUGGLING BUSINESS: South Korea’s biggest company and semiconductor manufacturer’s buyback fuels concerns that it could be missing out on the AI boom Samsung Electronics Co plans to buy back about 10 trillion won (US$7.2 billion) of its own stock over the next year, putting in motion one of the larger shareholder return programs in its history. South Korea’s biggest company would repurchase the stock in stages over the coming 12 months, it said in a regulatory filing on Friday. As a first step, it would buy back about 3 trillion won of paper starting today up until February next year, all of which it would cancel. The board would deliberate on how best to effect the remaining 7 trillion won of buybacks. The move
RSS