Hong Kong news

15 March 2018
JD.com is pondering investment options in Hong Kong, with plans for unstaffed stores and other innovations. Innovations in HK The retailer has been investing heavily in partnerships , especially with brick-and-mortar retailers, to accelerate its offline presence and bolster its O2O strategy. Now, JD.com is planning to bring drone delivery services and unstaffed stores to Hong Kong. J...
12 March 2018
Dairy Farm has reported a disappointing set of annual results, mainly attributed to the performance of its supermarkets and hypermarkets in South-east Asia. Annual sales up a modest 1% YoY Sales was up 1% YoY to US$11.3bn while consolidated sales including joint ventures and associates increased 7% to US$21.8bn, reflecting strong sales growth of 17% to US$ 8.6bn at Yonghui. However, net pro...
06 March 2018
Circle K will introduce a cash withdrawal service, allowing elderly consumers to withdraw cash at selected stores in Hong Kong. How does it work? EPS Company (Hong Kong) is an association of 20 major banks in Hong Kong, and the market leader for electronic payments in the country. EasyCash for Senior Citizens allows the elderly to withdraw money at selected stores without the need to make a...
25 January 2018
7-Eleven in Hong Kong has launched a new coffee, tailored to on-the-go consumers desiring fresh coffee at reasonable prices. We review this latest initiative and potential impact on the market. No-frills coffee on the go Dairy Farm is introducing a new 100% Arabica coffee blend in its 7-Eleven Daily Cafe kiosks in Hong Kong. Stores will also have coffee machines from Switzerland, with coffe...
05 January 2018
A.S. Watson has launched a Technology Partnership Programme to build a network of strategic partners to accelerate its global digital transformation. Greater visibility to drive growth A.S. Watson's latest announcement will see their ‘Tech Partners’ receive visibility on the group’s growth strategy. This should help provide expert advice and services, and access to innovations developed by ...
02 January 2018
Marks and Spencer confirms the sale and franchise of its retail business in Hong Kong & Macau. Existing franchise partner Majid Al-Futtaim becomes the sole franchisee for M&S in these markets. The partners first announced their plans in August, and the deal completed at the end of December 2017. Focus on profitable growth through franchising The announcement is in line with M&S's internatio...
06 December 2017
FamilyMart UNY may sell its operations in Hong Kong for reportedly US$100 mn (HK$781 mn). Post-merger strategy different between formats Since the merger of FamilyMart and UNY in September 2016, FamilyMart has moved quickly to convert Circle K and Sunkus convenience stores in Japan. The company is still on track to complete full integration by August 31st 2018. Raising average daily sales p...
15 November 2017
The retailer has reported improvement in Health and Beauty, Home Furnishings, Restaurants and Yonghui, however, the food division saw lower sales in the quarter. Performance of key business units The hypermarket and supermarket operations in Southeast Asia are still going through difficulties in trading, while the results from Greater China showed improvement over the same period last year....
07 August 2017
A.S. Watson has reported a flat revenue of HKD73.6bn (US$9.4bn) and 2% decline in operating profit to HKD5.2bn (US$664mn) for its fiscal first half compared to last year. Results impacted by currency fluctuations A.S. Watson's revenue has remained flat in the six months to 30th June, with results impacted by adverse foreign-currency exchange similar to results posted for FY2016. In local cu...
04 August 2017
Dairy Farm has reported solid profit growth in the first half despite lower sales in its supermarkets and hypermarkets. Supermarket and hypermarket sales declined 3 per cent Total sales, including associates and joint ventures, were 3 per cent higher at US$10.4bn. The underlying net profit was US$211m , up 6 per cent. Supermarket and hypermarket sales declined 3 per cent at constant exch...