Hong Kong - News & Analysis

22 August 2013
After last week's announcement that Tesco and China Resources Enterprise (CRE) are considering a joint venture in China, the retailers are now said to be in discussion about a joint bid for the ParknShop supermarket chain. Clear advantages for both CRE and Tesco ParknShop is Hong Kong's second largest retail chain with more than 345 shops in Hong Kong, Macao and mainland China . Acqui...
21 August 2013
The retail division of China Resources Enterprise reported consolidated turnover of HKD 47.9bn (USD 6.2bn), an increase of 13.7%, whilst adjusted consolidated profit declined 4% to HKD 637m (USD 82.1m). CRE delivered double digit revenue growth at company level CRE's total turnover for the first half of 2013 increased 12.3% to HKD 71.9bn and profit decreased by 11.1% (excluding the after...
13 August 2013
Pan Asian retailer Dairy Farm's local partner in the Philippines accelerates store openings.   Dairy Farm's partner Rustan's accelerating store openings This news follows Dairy Farm's entry to the Philippines in 2012 via a 50% partnership with domestic retailer Rustan's Supercenters. Last year Rustan's Supercenter opened three new stores. In 2013 it plans to open 15 new stores, and ...
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...