Retail and consumer goods industry news

10 May 2019
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 an...
10 May 2019
SM Retail has announced Q1 results for the period ending 31 March 2019, with total revenue up 13% to PHP79.0bn. Food revenue up 17% to PHP41.8bn The food side of the business continued to see strong growth during the period, driven by positive like-for like sales in existing stores, as well as the opening of 1 SM Supermarket, 1 Savemore and 52 Alfamart stores. Although the retailer didn't o...
09 May 2019
The Chinese ecommerce giant confirmed this week that it has closed its office in Australia less than 15 months after opening in February last year. A measure to mitigate losses JD.com’s Australian office in Melbourne, where Alibaba also has an office, was a step for the company to work closely with Australian suppliers and sell Australian goods, including food, wine, health supplements, vit...
09 May 2019
Vietnam's largest drugstore chain Pharmacity receives funding from Mekong Capital. Aggressive expansion plans Estabilshed in 2011, Pharmacity has rapidly grown its network to 186 stores in Vietnam and aims to have 1,000 stores within the next two years. “ Our partnership with Mekong Capital will empower us to continue improving healthcare for the Vietnamese people and help accelerate our gr...
09 May 2019
Dairy Farm has released its results for the first quarter of 2019, with sales ahead of the same period last year. Food: large formats remain a challenge, convenience strong The Group’s multi-year transformation plan for its Supermarkets and Hypermarkets business is underway, but CEO Ian Mcleod previously estimated it will take the company five years to complete its turnaround plan.  Sales i...
07 May 2019
SM Retail and A.S. Watson’s joint venture, Watsons, will open 100 new stores in the Philippines this year. Opening community-based stores Of the 100 planned new stores, 80% will be community-based stores. The aim is to provide greater accessibility to shoppers as it recognises that not all shoppers go to malls. These stores will be approx. 200 sq m, with three quarters of the space used as ...
07 May 2019
Robinsons has posted its annual results, with net sales up 15.1% to PHP132.8bn (US$2,556m). Strong set of annual results Robinsons posted net income of PHP5.1bn (US$98.5m) last year, an increase of 2.6% on the year previous. It achieved a 5.9% like-for-like (LFL) growth last year, mainly supported by a 6.1% increase in basket size in its supermarket business. In its convenience store bus...
07 May 2019
Healthier products set to become a significant category for the retailer. Growing demand for herbal and organic ranges Since 2016, Star Bazaar, the supermarket banner operated by Trent Hypermarket, has seen steady growth in its herbal, organic and natural products. Though initial growth was driven by large corporates such as Hindustan Unilever and Patanjali Ayurved Ltd., more and more playe...
07 May 2019
Sales revenues improved by 10.1% versus last year. New stores boost earnings For the first quarter of 2019, Sheng Siong Group reported revenues of SGD251.4m, an increase of 10.1%, as well as net profits of SGD19.4m, a rise of 5.9%. The positive results were attributed to the opening of 10 new stores in 2018. Although like-for-like store sales contracted by 1%, new stores contributed to 1...
03 May 2019
Honestbee CEO and cofounder Joel Sng has stepped down from his position, making way for Brian Koo who is part of the family that controls South Korea's LG. LG is one of the largest company in South Korea. It oversees US-headquartered investment fund Formation Group, a key investor and shareholder in honestbee. Fresh funding likely for the startup Mr Koo wrote in an e-mail to the company tha...