Wumart news

Following Wumart’s announcement last October that it intends to acquire an 80% stake in Metro China, the deal is now complete on 23 April. In this article, we explore what impacts this merge might bring to China’s grocery industry. Metro’s strengths make up the shortcomings of grocery retail in China China might lead the world in digital payment and retail technology, its grocery retail i...

Metro China has agreed to sell a majority stake to Wumart. Metro China will retain 20% stake Metro China kicked off the official selling process in March earlier this year. In May, eight companies were shortlisted as prospective bidders . Metro has released a statement, “this partnership includes the sale of Metro’s entire indirect participation in Metro China to a subsidiary of Wume...

Germany’s Metro has shortlisted eight companies for its China business, a deal valued at between US$1.5bn and US$2bn as previously reported . Top retailers among the bidders Reuters news agency, citing multiple sources who cannot be named due to the confidential nature of the sale process, reports the following are joining the bid: Alibaba, in partnership with Taiwanese retailer ...

Lotte Mart has agreed a deal with Chinese retailer Wumei Holdings Inc. to sell its 21 stores in Beijing. The deal Lotte will sell 87.38% stake of its Lotte Mart stores in Beijing to Wumei Holdings Inc. for CNY1.42bn (US$224m). Wumei operates Beijing-based supermarket, Wumart, covering mainly northern parts of China. To ensure a smoother transition for the stores, Lotte will maintain a 5% sh...

Wumart delivered a strong sales performance in the first half: total sales rose 11.9% to CNY 11.7bn (USD 1.9bn), though tougher profit performance, with net profit decreasing 19.5% to CNY 247m (USD 40m). Sales surge from store expansion but lower profit due to promotion investment Wumart saw a surge in same-store-sales, up 4.2%, as fresh and low price strategies introduced in May 2014 de...

Despite of the economic slowdown and threat from ecommerce, Wumart achieved faster growth in revenue in 2014 vs. 2013. The retailer recorded a total revenue of RMB21.6 bn (USD3.5 bn), representing an increase of 13.6% compared to 9% last year. The retailer's like-for-like sales growth was 4.36%. Growth from retail network expansion Under the implementation of the strategy of national expansio...

Beijing-based retailer Wumart is going to pay USD 225 million for a majority stake of 70% in home refurbishment chain B&Q in China. The all-cash takeover is set to complete in the first half of the coming year, subject to approval by the Ministry of Commerce. The agreement follows Kingfisher's announcement in March of its plans to look for a strategic partner to help develop its loss-making B&Q ...

Wumart recorded total revenue of approximately RMB10bn (USD mn), up 9.2% over the corresponding period of 2013. The steady growth in revenue was mainly attributable to sales growth driven by newly opened stores, increase in rental income and growth in comparable store sales. Comparable store sales growth rate was 0.9%, a decrease of 2.9% points as compared to H1 2013, which was mainly attributabl...

.style1 { text-align: center; }.style2 { text-align: right; font-weight: normal; } Spring Festival, the biggest festival of the year in China, is not only a time for reunions, but also the busiest period in the Chinese retail calendar. During the last Spring Festival holiday in 2013, sales at stores and restaurants around the country surpassed RMB539 bn (USD89 bn). With all the gatherings a...

The 10 year strategic cooperation agreement between the two groups allows Gome to manage the electrical appliance counters in Wumart's stores. Beijing, Tianjin and Hebei provinces will be the first regions to see this new format. A win-win situation For Wumart, the cooperation enhances its competitive advantage in the electrical appliance category, providing shoppers with more options as we...