Hong Kong - News & Analysis

16 August 2016
Convenience Retail Asia, operator of Circle K in Hong Kong has reported a 4.7% growth in H1 despite tough market conditions. Like-for-like sales rose 5.2% over the same time last year. Innovate to cater for local demand Despite declining tourists from mainland China and weak market sentiment, the demand from local shoppers remained strong and supported the convenience business. The retailer...
15 August 2016
A.S. Watson has reported a weaker performance with a 2% revenue increase across key markets for its health and beauty retail operations. Currency fluctuations and weak performance in China caused the slowdown. Growth in Europe held back by adverse exchange rates Within Western Europe, comparable store sales in health and beauty grew by 3.3%. Given the depreciation of the currency over the p...
29 July 2016
Hypermarkets and supermarkets sales down 2% Hypermarkets and supermarkets are the retailer's main formats, accounting for 77% of total sales of all subsidiaries. Sales declined in Singapore and Indonesia following the closure of underperforming stores, though profitability was improved. In Hong Kong, sales increased but profits were impacted by higher rental and labour costs. Sales were flat b...
27 April 2016
Dairy Farm, through its Malaysian subsidiary, has opened its first store in Cambodia, with the launch of a Giant hypermarket in the capital city. New shopping malls aiding modern retail expansion The first store has opened in the Phnom Penh Grand City Mall and will kick start the expansion plans for the retailer into the market. New locations are becoming increasingly available for retai...
07 April 2016
Despite the weak market condition, Hong Kong-based Convenience Retail Asia (CRA) has seen solid growth in FY2015, with its turnover increasing by 4.3% to HKD4.7bn (US$609.5m). Strong like-for-like sales growth in a sluggish market CRA attributes its positive performance to the solid performance in like-for-like store sales across its convenience store and bakery businesses. It operates...
09 March 2016
Asian retail giant Dairy Farm has revealed that sales were up 5% on a constant currency basis for the financial year ending December 2015, but the challenging operating environment across Asia resulted in a 17% fall in profit. Performance impacted by difficult regional conditions Despite sales improvement across all formats in constant currency, the group’s like-for-like sales remained ...
28 January 2016
HK based CEC International, 759 Store’s parent company, announced its half year revenue ending October 2015 rose 10.6% to HK$1,26bn, with gross profit up 17.6% year-on-year. Stunning growth amid unfavourable market condition The robust growth is mainly driven by the strong performance of 759 Store that accounts for over 90% of the group’s business. This is particularly impressive consi...
17 December 2015
AS Watson will celebrate its milestone anniversary with a year of planned activities. Schedule of events spans all AS Watson markets From a small store in 1841, AS Watson has grown into one of the largest multinational health and beauty retailers. The Group has planned 240 celebration activities throughout the year, across its 24 markets in Europe and Asia. Events include a prize draw that ...
05 November 2015
Pan-Asian retailer Dairy Farm has revealed that softer sales growth, combined with rising costs and unfavourable exchange rates, has resulted in weaker margins than expected for the third quarter of 2015. Challenging food performance in South East Asia Dairy Farm's food business has had mixed fortunes, with satisfactory results in north Asia, offset by difficult trading conditions in ...
16 October 2015
Aeon delivered record high operating revenues this half, rising by 18.7% to JPY4.1tn ($US34.4bn). Operating income grew by 28.8%. Revenues grew in all retail channels Aeon's supermarket and discounter stores achieved 28% growth in operating revenue to JPY1.6tn (US$13.1bn), with operating income increasing by 14.7%. These results follow improvements in the fresh and deli offering, an exten...