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This guide to Singapore explores the key trends in grocery retail, the outlook for the country’s differing channels over the five year forecast period and the growth strategies of its leading retailers.

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Strong demand due to COVID-19 carried over to Q3.

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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...

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