RT-Mart news

16 May 2019
Alibaba Group announced financial results for the quarter ended 31 st March 2019. Strong performance with growing user base The group reported strong performance for the quarter. Daniel Zhang, Chief Executive Officer of Alibaba Group commented that “ Alibaba is becoming synonymous with everyday consumption in China, growing our base to 654 million annual active consumers and extending our ...
11 March 2019
Following on from the announcement of its results, Sun Art has said its chief executive, Ludovic Holinier had resigned from his role. The retailer said Holinier will be replaced by Ming-Tuan Huang. Huang to sustain recent strategy At the moment, Huang is chairman of RT-Mart and is responsible for the overall strategic planning and management of the Group. He has also been CEO of RT-Mart Lim...
06 March 2019
China’s major hypermarket operator Sun Art Retail Group Ltd, set up by Auchan and Ruentex and backed up by Alibaba, reported a 7.3% fall in 2018 profit. Missing market expectations The retailer reported its net profit fell to RMB2.59bn (US$386m) from RMB2.79bn (US$386m). This was below the expected RMB2.70bn. Turnover fell by 2.9% to RMB99.36bn and same-store sales fell 1.72% year-on-year. ...
14 August 2018
Sun Art has posted a 0.3% decline in sales revenue to CNY52.1bn (US$7.6bn) for the first six months ending 30 June 2018. Growth slowing For the first half, Sun Art recorded a modest 0.8% increase in profit to CNY1.9bn (US$278.1m), while same store sales growth fell 1.6% compared to -0.9% for the same period last year. This was attributed to increased competition, which has been diversifying...
14 June 2018
As China becomes a key global retailing market for companies looking for inspiration about how operating models and formats could develop, France-based Auchan and Carrefour have made separate announcements about the country’s growing importance. Carrefour says China is ‘testing ground’ for initiatives Following the opening of its Le Marche concept in May, created with Tencent has increased ...
14 June 2018
Alibaba continues to revamp Sun Art hypermarkets in China, integrating digital features across RT-Mart banner stores up and down the country. Influence of Alibaba RT-Mart has finished the digital transformation of 100 stores and Alibaba plans to support transformation of 300 more outlets by end of the year. Revamped stores will be fully integrated into Alibaba’s New Retail ecosystem, and ac...
07 March 2018
Following the acquisition of a stake in Sun Art by Alibaba in November 2017, the latter has announced that it is set to begin implementing its aim to blur online and offline retailing as part of a digital transformation of both RT Mart and Auchan hypermarkets in China. Alibaba’s ‘New retail’ begins to take shape Initially Alibaba has said it will enhance two stores, one each in Shanghai...
05 March 2018
Sun Art Retail has posted its 2017 annual results, with revenue rising 1.9% to RMB102,320m (US$16,130m) and profit up 2.9%. However, its revenue growth has slowed down compared to previous years, having grown 6.6% (CAGR) between 2012 - 2016. We review the retailer's recent performance and future outlook.  Reinventing hypermarkets During the year, the Group opened 18 hypermarkets, of which o...
20 November 2017
The three groups have announced a strategic alliance that brings together their online and offline expertise to explore new retail opportunities in China’s food and grocery retail sector. Auchan remains the biggest shareholder of Sun Art Alibaba will invest a total of HK$22.4bn (US$2.88bn) to obtain an aggregate direct and indirect stake of 36.16% in Sun Art, the operator of RT-Mart and Auc...
14 July 2017
Chinese hypermarket operator Sun Art Retail Group forecasts a significant increase to first half profit, driven by unutilised balances on older prepaid cards. Utilising balances on prepaid cards The company, which is a joint venture between Taiwan's Ruentex Group and France's Groupe Auchan, expects unutilised balance for prepaid cards to contribute CNY345m (US$50.83m) to its net profit for ...