Yonghui Archives - Page 3 of 3 - Inside Retail Asia

Dairy Farm struggles in SE Asia

Dairy Farm International Holdings says softer sales growth and steep cost increases led to weakened margins in the third quarter.

Dairy Farm buys more Yonghui shares

Dairy Farm International has agreed to acquire a further 143 million shares in a placement by Yonghui Superstores for about US$210 million.

Dairy Farm completes Yonghui deal

Dairy Farm International Holdings has confirmed the completion of its acquisition of a 19.99 per cent strategic stake in Yonghui Superstores.

Chinese nail down home advantage

China’s domestic retailers are continuing to squeeze out foreign rivals in the nation’s growing FMCG market. Research from Kantar Worldpanel shows a solid 5.7 per cent value growth in China’s FMCG market for the year to September 5. While in comparison to historic levels this remains low, in the latest quarter (Q3 2014), FMCG growth recovered to 6.9 per cent, higher than both Q2 (4.7 per cent) and Q1 (4.6 per cent) – what Kantar describes as “a promising rebound in the second half of …

China FMCG growth stabilises

China’s FMCG market has stabilised on the back of strong online demand. The sector posted value growth of 5.6 per cent for the year to June 13, reports researcher Kantar Worldpanel with lower tier cities the key driver for total growth. International retailers continued to lose share to local retailers. At national level, international retailers occupy a share of 20.4 per cent in terms of sales values in the second quarter, and are seeing a 1.4 point share decrease when compared with the s…

Walmart shutters Chongqing store

Walmart has closed its store in the Chinese city of Chongqing. Wamart says the store, on Nanbin Rd, has been unprofitable for long time. This is the first time Walmart has closed a store in Chongqing after entering the city 10 years ago. Walmart has been closing Chinese stores that do not meet expectations – 10 stores were shuttered in November and December alone. However, the company has reaffirmed it remains committed to the Chinese market with plans to open 110 new stores and distrib…

Chinese supermarket plans expansion

Chinese supermarket chain Yonghui will open 60 new stores this year. Its expansion plan will continue over the next three to five years as it is targeting to open 40-50 stores during the period. Last year, Yonghui opened 46 stores, mostly in mature markets like Guangzhou, Shanghai, Beijing, Chongqing and Fujian. As at January 1, the retailer has opened 293 stores across China. Yonghui is not alone in its expansion efforts in the nation. Its foreign rival Walmart will accelerate developm…

Yonghui expands supermarkets

Chinese supermarket chain Yonghui plans to open six new stores this year. The first three have opened at Wanda Plaza with the other three to open in Harbin, Xi’an and Nanjing. Each supermarket will have a retail floor area of between 8000 sqm and 15,000 sqm. Yonghui has already opened 16 supermarkets within Wanda Plaza since it started its collaboration. It says it aims to have 350 stores and a sales revenue of 50 billion yuan ($8.1 billion) by 2014. Yonghui was founded in 2000 an…