Hong Kong - News & Analysis

12 September 2013
The latest updates on geographical expansion and format development from China Resources Enterprise, operator of the well-known CR Vanguard banner. Next generation premium store CRE has opened its third Ole' store in Shanghai. One of CRE's premium supermarket formats, the retailer plans steady expansion to cater for the market's growing band of affluent shoppers. The store is one of the...
29 August 2013
AEON's expanding operational networks in Hong Kong and mainland China delivered revenue growth of 15.9% to HK$4.2bn (US$542m). However, profit declined 80.2% to HK$26.3m (USD3.4m) in the first six months of the year. First half results reflect expanded network and market challenges Healthy double digit growth in revenue was supported by new store openings. AEON now operates 28 stores in sou...
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. ...