Sheng Siong news

New legislation will see leading supermarket and hypermarket chains in Singapore charge shoppers at least SGD0.05 (US$0.04) for disposable carrier bags from 3 July 2023. This is to encourage shoppers to reduce waste and adopt a more sustainable lifestyle. Mandatory for larger store formats Larger supermarket and hypermarket retailers with an annual turnover of over SGD100m (US$74m) will be ...

Despite a tax hike in 2023, Singapore’s leading supermarket and hypermarket retailers have all committed to offsetting the increase to provide affordability to shoppers amidst concerns on the impact of inflation. Tax hike covers all products Singapore’s Goods and Services Tax (GST) was increased by 1 percentage point, from 7%, to 8%, starting from 1 January 2023. The GST is a VAT-style tax ...

Strong demand due to COVID-19 carried over to Q3. Increased volume due to work from home Net profit increased by 54% in Q3 to SG$31.8m (US$23.3m) compared to last year. In the first half of 2020, shoppers loaded up their pantries due to restricted movement imposed by the Singapore government. Although the lockdown was lifted in June, the government continued to encourage working from homes....

Sheng Siong, a supermarket chain with 60 stores in Singapore, reports SGD418.7m (US$304.4m) revenue increase for Q2, driven mainly by elevated demand due to COVID-19. Its net profits also increased 150.7% to SGD46.2m (US$33.6m) for Q2. Lockdown measures increased home cooking Shoppers were stocking up on essentials at home due to concerns on disruption to supply chains. Due to the lockdown ...

Following the outbreak of Coronavirus (COVID-19) three months ago, retailers in Singapore have responded with urgency and empathy as the situation evolves - we will continue to update this article with the latest developments... Dairy Farm Group hires staff from hotels More than 150 from seven hotels have been redeployed to Cold Storage, Giant and Guardian stores under the Dairy Farm Group....

Sheng Siong has generated a 49.9% year-on-year increase in net profit to SGD29m (US$20.6m) for Q1 2020. It is driven by growth in revenue, better gross margin and higher other income arising from elevated grocery demand due to the COVID-19 pandemic. Revenue grew 30.7% Revenue growth by LFL sales contributed 19.7%, new stores contributed 9% and stores in China contributed 2%. The group start...

Sales revenues improved by 11.1% versus same period, last year. Store openings helps growth For the first nine months of 2019, Singapore supermarket operator Sheng Siong reported sales revenues of SGD743.4m, an increase of SGD74.2m from last year’s same period revenues of SGD669.1m. As a result of improving sales revenues, net profits correspondingly rose to SGD58.4m, an increase of 10% ver...

In 2018, Sheng Siong opened 10 new stores, bringing its total store count to 54 and total retail area to more than 46,000 sq m. We recently visited its store in Junction 10, Woodlands Road and bring you some in-store highlights.  Source: IGD Research Located in a shopping mall near the Bukit Panjang MRT station, this 1,900 sq m store contains a wide range of fresh foods as well as packag...

Sales revenues improved by 10.1% versus last year. New stores boost earnings For the first quarter of 2019, Sheng Siong Group reported revenues of SGD251.4m, an increase of 10.1%, as well as net profits of SGD19.4m, a rise of 5.9%. The positive results were attributed to the opening of 10 new stores in 2018. Although like-for-like store sales contracted by 1%, new stores contributed to 1...

Revenue for the supermarket chain increased by 7.4% versus last year. Store openings boosts growth Singapore supermarket operator Sheng Siong Group reported positive growth for 2018, with revenues of SGD890.9m, an improvement of SGD61m versus last year. Out of the 7.4% increase in revenues, 10.1% was contributed by new store openings. In total, the retailer added 10 new stores to its networ...