CEC International says its 759 Store network achieved a 48 per cent increase in sales in the year to April 30.
While the group has varied interests, its retail business accounted for nearly 90 per cent of its $2.44 billion in total sales.
759 Store positions itself as in between convenience stores and supermarkets, its primary point of difference its ‘self-import model of stock and uniform margins.
During the year it added 57 new stores, taking its network to 249, including five restaurants and a bakery. The overall gross profit margin of the group was 31.8 per cent, an increase of 1.9 percentage points.
During the year, profit reached $27,708,000, a relatively modest 17 per cent increase over 2014, reflecting the costs of a rapid store expansion program and the ongoing scaling back of its manufacturing business.
CEC says its 759 Store and 759 Supermarket concepts have evolved since the brand’s launch in 2010 from just selling sweets and snacks into a broader range of low margin, high turnover lines across many categories, including rice and grain, non-staple food, frozen food, alcohol, pet snacks, household goods, kitchenware, household electrical appliances, personal care supplies, cosmetics, supplies for babies, toys, novelties and accessories.
It has also opened:
- 759 Kaguya and 759 Store Household Market, selling household goods, kitchenware, household electric appliances
- 759 Shinguya, selling fashionable pajamas and beddings.
- 759 Toysland, selling supplies for babies and toys.
- 759 Wonton Noodle, 759 Cart Noodle, 759 Cha Chaan Tend and 759 Cafe, restaurant concepts.
- 759 Bakery.
