Asia – Page 32
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News
Revenue at pharmacy operator Nepstar declines 9.3%
Revenue at pharmacy operator Nepstar declined 9.3% in the third quarter to Yn556m (£495m), while net income remained stable at Yn7m (£33m).Nepstar chief finance officer William Dai said: “Our ability to consistently generate strong free cash flow demonstrates that our financial health has strengthened throughout the economic recovery and paves ...
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AnalysisAS Watson: Gunning for the Chinese lion’s share
Global health and beauty giant AS Watson has big plans for China, with ambitions for as many as 5,000 stores there. Tim Danaher flew to Shanghai for a rare interview with managing director Dominic Lai, the man masterminding the Superdrug owner’s expansion.
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Media Markt signs joint venture contract with Foxconn Technology Group
Metro Group-owned consumer electronics retailer Media Markt has signed a joint venture contract with Taiwan-based electronics and computer parts manufacturer Foxconn Technology Group.It plans to opens its first store in Shanghai in mid-2010. Foxconn will hold 25% in the joint venture and Media Markt will have 75%. Initially, Media Markt ...
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News
Costco highlights Asia as key growth region
Warehouse club operator Costco has highlighted Asia as a key growth region.In Japan, Taiwan and South Korea, Costco said it has the capacity to trade from 100 stores.In Australia, where it opened its first store in August, the warehouse club operator believe it can reach 20 stores. As a result, ...
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News
FamilyMart to acquire Am/pm Japan
Convenience retailer FamilyMart is to acquire Am/pm Japan for ¥12bn (£80.1m) from parent company Rex Holdings.FamilyMart, Japan’s third largest convenience chain, plans to absorb Am/pm next year and will rebrand the stores over the next two years.The chain will be acquired in partnership with its main shareholder Itochu. The merged ...
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RT Mart to launch flagship store in Beijing
Auchan subsidiary grocer RT Mart is to launch a flagship store in Beijing – its first in the city.The grocer, which is based in Taiwan, is fitting out the store at present and will be located in the city’s Chinatown Shopping Plaza.Auchan also recently announced plans to step up expansion ...
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OpinionBuild bridges with Chinese suppliers
Despite economic growth signalling the end of recession, UK retail sales have frequently been flat against the same periods last year, indicating that a proper recovery will take more time.
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NewsTesco joint venture to build malls in China
Tesco is to build three shopping malls in China after forming a property joint venture with local partners.
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News
Sales at electronics retailer Yamada Denki climb
For the six months to September 30, sales at consumer electronics retailer Yamada Denki climbed 1.9% to JPY936.6bn (£6.3 bn). Operating profit fell 15.4% to JPY25.1 billion (£168 million). Net profit was down 20.2% to JPY16.4 billion (£110 million).
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News
Walmart plans to open a further 40 stores in India
Walmart plans to open a further 40 stores in India, according to Indian commerce and industry minister Anand Sharma. “Walmart is very satisfied with its results in India. I was informed by the Walmart CEO that they are looking at opening more stores. He gave me a figure of 40 ...
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News
Spencer’s to focus on hypermarkets and private labels to improve profitability
Food and general merchandise retailer Spencer’s is to focus on hypermarkets and private labels in an attempt to improve profitability.The retailer, which is owned by Indian conglomerate RPG Group, will invest INR1bn (£12m) in rolling out 10 hypermarkets and 15 small-format stores this financial year. It also wants to double ...
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News
Carrefour to expand in China
Despite ongoing speculation in the Chinese press that Carrefour is coming under shareholder pressure to exit China, it is to expand its presence in the Chengdu region with two new hypermarkets this year, and more in 2011.General manager of central and western China Arnaud Dupont said Chengdu had “huge market ...
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NewsMothercare to extend Indian stores network
Mothercare has signed a second joint venture in India, with DLF Brands, the retail division of a local property giant, to accelerate its expansion there.
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NewsMothercare signs new joint venture to further growth in India
Mothercare has signed a new joint venture with DLF Brands to further its expansion plans in India.
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News
Gianni Versace plans Japan exit
Designer fashion brand Gianni Versace plans to exit the Japanese market due to a slowdown in consumer spending.Its three stores in Tokyo, Osaka and Chiba will be shut and liquidation measures are expected to be complete by the end of the year. “The Versace boutiques in Japan no longer represented ...
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News
Fast Retailing profits up 14%
Fast Retailing has reported that net profit rose 14.4% to ¥49.8bn (£315m) for the financial year ended August 31. Sales rose 16.8% to ¥685.04bn (£4.3bn).The clothing store operator will seek to expand its Uniqlo stores in Asia from 76 to 132 over the next year. Fast Retailing, which aims to ...
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News
Pantaloon Retail reported total group income rose 31%
India-based Pantaloon Retail reported total group income rose 31% to INR76.69bn (£1.01bn) in its financial results for the year ended June 30.Net profit after minority interest declined sharply from INR219.3m (£2.9m) in the previous year to INR100.7m (£1.3m). The group is expecting to achieve 35% to 40% sales growth during ...
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News
Cencar expands loyalty programme
Carrefour’s operator in Thailand, Cencar Co, is stepping up its customer loyalty and retention programmes to better compete with rivals Tesco Lotus and the Casino-owned Big C chain.The retailer has dedicated THB50m (£937,894) towards the “Carrefour Month 2009” campaign, which will reward loyalty cardholders with discounts at 37 stores ...
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News
Pantaloon Retail sales up 31%
Pantaloon Retail’s net sales rose 31% to INR76.69bn (£994.8m) for the year to June 30.Net profit at the group, which is Indian’s largest retailer, plummeted from INR219.3m (£2.84m) the year before to INR100.7m (£1.3m).The decline was primarily due to rising employee costs, depreciation and interest charges.Kishore Biyani, chief executive of ...