SINGAPORE (May 9): Shares in Parkson Retail Asia fell by as much as 15.2% on Monday, after the department store operator said last Friday that it will post a loss for the quarter ended March 31, 2016. A year earlier, it made a profit.

By 1.52pm, the stock had slid 14.8% from the previous close to 19.6 cents. Some 16.8 million shares changed hands, making it among the most actively traded on the bourse. 

"This is primarily due to weak discretionary spending across the group's major markets, leading to overall reduced sales during Q3 FY2016. Given current weak economic conditions, the group will continue to monitor stores' performance closely and take appropriate actions where necessary," it said.

The company will release its 3Q results on Thursday.