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Alison Horner, CEO of Tesco Asia, shared the region’s plan to maximise the mix in a meeting for investors and analysts at its head office in the UK.

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Sales for the first quarter grew by 9% versus same period last year.

A renewed focus on shopper needs

7-Eleven Malaysia reported sales revenues of MYR583.73m at the end of the first quarter of 2019, a 9% increase in previous year’s sales. This growth was attributed to positive response to consumer promotions, opening of new stores as well as an increased basket size per shopper.

7-Eleven Malaysia currently operates 2,311 stores in Malaysia and reported a significant growth of 30% within its food service category. Like-for-like store sales also saw a growth of 6.1%.

Correspondingly, profit after tax was MYR$11.15m, a rise of 24.8% (MYR$2.22m) versus same period last year.

We see opportunities for improvement and confident that our strategy roadmap of strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organisation will bear fruit in terms of financial performance and overall customer experience,” said 7-Eleven Malaysia chief executive officer Colin Harvey.

Find out more information about 7-Eleven Malaysia here.

 

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Phoenix Petroleum, owned by Dennis Uy, is acquiring Circle K in the Philippines.

Acquisition through Philippines FamilyMart

Phoenix Petroleum’s subsidiary Philippine FamilyMart CVS Inc. is in the process of acquiring Circle K in the Philippines. The acquisition aims to help FamilyMart drive future growth, with Circle K stores set to be rebranded to the FamilyMart banner over the next few months.

To establish a stronger presence, the retailer is launching FamilyMart stores at Phoenix retail stations as well as greenfield sites. Circle K in the Philippines is currently operated by Suy Sing Corp’s Super 8 Retail Systems.

More about Phoenix Petroleum

Phoenix Petroleum acquired FamilyMart Philippines in late 2017. Last year, it launched Generation 2 concept stores, offering customers a wider selection of food items and an upgraded shopping environment. FamilyMart ended FY2018 with 69 stores in the Philippines.

FamilyMart is reportedly suing to end its partnership with Taiwanese conglomerate Ting Hsin Group in China.

Dispute over royalties and visibility

FamilyMart has accused Ting Hsin of failing to arrange a fair share for profits it earned from its business in China, and not providing adequate information on the venture’s profitability.

More about the partnership

FamilyMart first established the joint venture back in 2004, and now operates over 2,560 stores in China. Ting Hsin Group currently owns 59.65% stake in the business.

Alibaba and Bailian Group are planning to open 500 Ego convenience stores in China this year.

New Retail convenience stores

The first store, which has opened in Shanghai, operates around 500 sq m and has six key areas: coffee, bakery, foodservice, fresh, grocery retail and leisure/dining.

About two-thirds of the store area is dedicated to fresh or foodservice, including coffee, bakery and hot meals. It features three self-checkout machines in addition to Alipay checkout and Bailian wallet.

With the store almost five times larger than a typical Japanese CVS, it is able provide a greater range of products and services and meet different shopper missions. The store will also double up as a ‘fulfilment centre’ for distributing products to even smaller stores that Alibaba and Bailian plans to launch.

Two Ego formats

Media reports suggest that Alibaba and Bailian have leased space between 20 to 30 stores in Shanghai for the Ego banner. They also planning to launch two formats: larger central outlets operating between 300 and 500 s qm, and smaller stores of about 100 sq m.

Alibaba and Bailian’s strategic agreement

Alibaba and Bailian signed a strategic cooperation in February 2017 and committed to working together on using big data and new technologies to develop New Retail concept stores. It also aimed to maximise Alibaba’s deep understanding of customers and Bailian’s bricks-and-mortar experience.

Asia is home to some of the world's largest convenience chains, we assess the trends driving the growth and the leading retailer's strategies for continued success.

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