Sheng Siong, a supermarket chain with 60 stores in Singapore, reports SGD418.7m (US$304.4m) revenue increase for Q2, driven mainly by elevated demand due to COVID-19. Its net profits also increased 150.7% to SGD46.2m (US$33.6m) for Q2. Lockdown measures increased home cooking Shoppers were stocking up on essentials at home due to concerns on disruption to supply chains. Due to the lockdown ...

Following the outbreak of Coronavirus (COVID-19) three months ago, retailers in Singapore have responded with urgency and empathy as the situation evolves - we will continue to update this article with the latest developments... Dairy Farm Group hires staff from hotels More than 150 from seven hotels have been redeployed to Cold Storage, Giant and Guardian stores under the Dairy Farm Group....

Sheng Siong has generated a 49.9% year-on-year increase in net profit to SGD29m (US$20.6m) for Q1 2020. It is driven by growth in revenue, better gross margin and higher other income arising from elevated grocery demand due to the COVID-19 pandemic. Revenue grew 30.7% Revenue growth by LFL sales contributed 19.7%, new stores contributed 9% and stores in China contributed 2%. The group start...