Yonghui news

01 August 2019
Dairy Farm has released its H1 results for the six months ended 30 June. Consolidated sales increased 13% to US$13,781m, but subsidiary sales fell 3% to US$5,761m. Overall performance encouraging Dairy Farm’s overall performance is recovering. It recorded positive sales in four out five divisions and underlying profit for the first six months was up 5%. Strong performances from associates a...
05 July 2019
Yonghui has launched a new format, Market Life, in Shanghai’s Pudong District. Focusing on local cuisine and culture The new store, located in Sanlin yinxiang cheng (INCITY mall), operates approx. 4,000 sq m retail space. It focuses on fresh food to meet the lifestyles of urban shoppers. Market Life combines traditional market culture with modern farmer's market decor. The foodservice count...
29 May 2019
Germany’s Metro has shortlisted eight companies for its China business, a deal valued at between US$1.5bn and US$2bn as previously reported . Top retailers among the bidders Reuters news agency, citing multiple sources who cannot be named due to the confidential nature of the sale process, reports the following are joining the bid: Alibaba, in partnership with Taiwanese retailer ...
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...
01 May 2019
 JD.com plans to invest CNY6.5bn (US$965.1m) in Thailand over the next three years to strengthen its fresh food business. Offering shoppers more choices In partnership with Yonghui, JD.com plans to import large quantities of durian, mangosteens, coconuts and other fruits from Thailand worth CNY5bn (US$742.4m). JD.com itself will also source an additional CNY1.5bn (US$222.7m) worth of fruits...
29 April 2019
Yonghui has posted another strong set of annual results. Total revenue increased 20.4% to CNY70.5bn (US$10.5bn), with consolidated net profit up 18.5% to CNY1.5bn (US$219.9m). Fastest growing bricks-and-mortar retailer in China Despite increasing competition and the market’s slowdown in growth, Yonghui continues to be the fastest growing bricks-and-mortar retailer in China. To maintain g...
28 February 2019
Dairy Farm has reported its 2018 annual results. Performance of its Health and Beauty segment was strong, but its Food business saw further decline. Annual sales up 4.1% Dairy Farm posted sales growth of 4.1% to US$11.7bn for the fiscal ending. Consolidated sales including joint ventures and associates increased 0.6% to US$21.9bn. During 2018, the retailer sold its Giant hypermarket s...
14 November 2018
Dairy Farm has reported mixed results for Q3, pulled down by challenges in the food division. Strong growth in health and beauty The retailer reported strong sales and profit gains in Hong Kong and Macau. The retailer also saw improvement in its Southeast Asian businesses, especially in Malaysia and Indonesia. Food business profits decline Both sales and profits were down in several m...
25 October 2018
Tencent has partnered ParknShop and Yonghui to launch a new grocery chain ParknShop Yonghui. Valued at US$170m, the joint venture aims to help both Yonghui and ParknShop expand their businesses in China further. A new grocery chain, ParknShop Yonghui  Yonghui will be the largest stakeholder in the new joint venture, investing US$89.5m for a 50% stake. ParknShop will hold a 40% stake with co...
01 August 2018
Yonghui has achieved total revenue of CNY34.3bn (US$5bn), an increase of 21.5% in the first half of 2018. Store expansion driving growth Yonghui continues to report robust results despite increasing challenges raised by online rivals. Network expansion and format development are major drivers of growth for the retailer, as it continues to expand its network across China. Yonghui is mainl...