Hong Kong news

10 July 2017
A.S. Watson has announced that they will open 88 new stores in the UK via Superdrug, Savers and The Perfume Shop. Investment in UK despite uncertainty While sterling has fallen due to the Brexit uncertainty, and local currency HKD sliding against USD, A.S. Watson will continue to invest in the UK. The group said it would be opening 30 more Superdrug stores, 45 Savers outlets and 13 The Perf...
29 June 2017
The largest international health and beauty retailer, A.S. Watson Group, plans to open 1,400 stores across the world this year. Store expansion to improve overall profits Despite failing in a recent bid to acquire heath retailer Holland & Barrett, Watsons have moved swiftly to announce their latest expansion plans. Watsons aims to open 1,400 outlets globally this year, with 500 stores in Ch...
23 June 2017
Dairy Farm has appointed Ian McLeod, as its new CEO, replacing Graham Allan who is stepping down on August 31 after five years with the Group. New CEO from September 18th The new CEO will be in position from September 18th. Commenting on the change, Dairy Farm chairman Ben Keswick said Allan had pioneered initiatives that have focused on meeting customers’ needs and enhancing the capabiliti...
05 May 2017
Dairy Farm International has posted mixed results in Q1, with sales slightly lower than the same comparable period in 2016. Trading conditions steady... For the first quarter, Dairy Farm has reported increases in sales and operating profits for their divisions and associates; Health & Beauty, Home Furnishings, Maxim's and Yonghui associated. However, this was offset by weak sales in their F...
27 April 2017
Pret A Manger reports strong growth in 2016, with sales up 15%. Highlights include veggie innovation and an increase in non-core missions across day parts... Another year of growth for Pret Pret's financial results for 2016 mark the 12th year of revenue and earnings growth. Pret reports total sales of £776.2m, up 15% from 2015. Like-for-like sales were up 4.8% compared to 2015, and EBITDA u...
27 March 2017
A.S. Watson has reported a flat retail revenue of HKD151.5bn (US$19.5bn) and 2% decline in operating profit for FY2016 compared to last year. Results impacted by adverse currency exchange and HK performance After removing the effect of currency exchange, revenue and operating profit showed 3% gain year-on-year, offset by Hong Kong retail operations. Cost inflation and lower tourist arrivals...
02 March 2017
Dairy Farm, leading multi-format retailer in Asia, reports sound profit growth of 7% in 2016, despite soft consumer sentiment and intense pressure on pricing in most markets.  Sales, excluding associates and joint ventures, of US$11.2 bn, were 1% ahead of the prior year in US dollar terms and 2% ahead in constant currency terms. The retailer opened 114 net new stores during the year. Food: ...
16 August 2016
Convenience Retail Asia, operator of Circle K in Hong Kong has reported a 4.7% growth in H1 despite tough market conditions. Like-for-like sales rose 5.2% over the same time last year. Innovate to cater for local demand Despite declining tourists from mainland China and weak market sentiment, the demand from local shoppers remained strong and supported the convenience business. The retailer...
27 April 2016
Dairy Farm, through its Malaysian subsidiary, has opened its first store in Cambodia, with the launch of a Giant hypermarket in the capital city. New shopping malls aiding modern retail expansion The first store has opened in the Phnom Penh Grand City Mall and will kick start the expansion plans for the retailer into the market. New locations are becoming increasingly available for retailer...
07 April 2016
Despite the weak market condition, Hong Kong-based Convenience Retail Asia (CRA) has seen solid growth in FY2015, with its turnover increasing by 4.3% to HKD4.7bn (US$609.5m). Strong like-for-like sales growth in a sluggish market CRA attributes its positive performance to the solid performance in like-for-like store sales across its convenience store and bakery businesses. It operates 449 ...