Hong Kong - News & Analysis

01 August 2013
Pan Asian retailer Dairy Farm announced half year sales results of US$6bn, an increase of 10%. However, net profit declined 5% to US$228m. Food businesses report decline in profit Solid like-for-like sales in most of its major businesses supported Dairy Farm's double digit sales growth. Its domestic market Hong Kong performed particularly strongly, with Wellcome supermarket's Chinese New...
22 July 2013
A.S. Watson has implemented a strategic review which may result in the sale of its Hong Kong ParknShop supermarket operations. Strategic review underway A.S. Watston , part of Hong Kong's Hutchinson Whampoa conglomerate, is conducting an internal review of its supermarket retail business. The company announced its review was to ascertain the course of action that would "optimize value f...
18 July 2013
The latest news from China Resources Enterprise and Yonghui, two of China's leading domestic retailers. CRE's Suguo on track with store openings Suguo, one of China Resources Enterprise's leading fascias, is on track with store expansion, Chinese press reports. The retailer opened 70 new stores in the first half, reaching a total of 1,400 stores operating under the banner. A further 10...
17 June 2013
Yahoo has launched its latest online service initiative in Hong Kong, selling and delivering premium fresh grocery products. Building on existing one million shopper base South China Morning Post reports the service is the first of its kind within the Yahoo international service and will target existing users of the company's other shopping sites, Yahoo Deals and Yahoo Outlet. The servi...
13 June 2013
One of China's leading grocery retailers revealed plans to boost its store network through the addition of 80 new premium format stores by 2016. High end stores: a small but significant part of the portfolio At the end of 2012 CRE's network encompassed 4,425 stores in Hong Kong and mainland China . Premium formats accounted for only a handful of these: 20 Ole' stores and 11 blt stores. ...
23 May 2013
In the first quarter, China Resources Enterprise's (CRE) retail sales grew 7.3% to HKD 25.9bn (USD 3.3bn) and net profit declined 6.3% to HKD 252m (USD 32.5m). New store openings driving growth A leading grocery operator in the market, CRE's performance in the first quarter was robust, but represents a slow-down compared to its very strong start to the year in 2012. Retail sales growth of 7...
15 April 2013
What conditions make Asian markets so receptive to the online/offline model? Looking at how this trend has progressed, we focus on some key examples to sketch the shape that online/offline developments might take in the future. QR code walls – media stunt or innovative solution for busy shoppers? In 2011 Tesco launched the world’s first virtual store – a QR code shopping wall in a subw...
21 March 2013
China Resources Enterprise (CRE) has reported consolidated group sales growth of 14.6% for 2012, with retail division turnover up 19.1%.  Growth at retail division, food division sales down In the retail division, same store sales growth was up 4.1% year-on-year, driven by rising prices of consumer goods, new store openings and a contribution from the acquired Jiangxi Honkelong Department ...
11 March 2013
Dairy Farm reported sales of USD 9.8bn for full year 2012, an increase of 7% year-on-year, with mixed fortunes across its operating markets. Overview of performance in 2012 Dairy Farm's overall performance was positive in an increasingly challenging trading landscape. Decline in underlying profit was attributed to accounting errors in its Malaysian operations - adjusted figures showed an...
31 January 2013
CP All, operator of 7-11 in Thailand, will apply for a license to open stores in China, ahead of market entry in Myanmar, Laos, Cambodia and Vietnam. Whilst helping Seven & I maintain its dominant position in the convenience format, the move will intensify competition in key Asian markets and present new opportunities for suppliers.  Asia's position in Seven & I's global strategy In line wit...