China Resources Vanguard news

13 July 2017
Chinese supermarket chain Vanguard has announced a 50-50 joint venture on data science with Dunnhumby, Tesco's data analysis firm. Big data to drive growth The joint venture will help Vanguard better understand shopper habits and consumer behaviour so that they can target their marketing campaigns and promotions more effectively. The data analysis may also prove useful in providing importan...
15 March 2016
CR Vanguard has posted a 5% increase in its annual sales in 2015 to RMB109.4bn (US$16.8bn), whilst its store numbers dropped from 4,127 to 3,400. Expanding in convenience stores and closing underperforming supermarkets Since taking over Tesco China’s operation last year, CR Vanguard has been streamlining its business priorities, focusing on growing its convenience and community store operat...
25 August 2015
CR Vanguard, the retail division of China Resources Enterprise, has reported a 16.3% increase in turnover in its first half to HK$61,146m (US$7,888m) with a loss of HK$2,847m (US$367m), down from a HK$439m (US$56.6m) profit in H1 2014. Tesco joint venture contributes to profit hit These disappointing results reflect a variety of forces including a slowdown in the economy, increased operatio...
23 June 2015
To capture the fast growth of e-commerce, leading Chinese retailer CR Vanguard has launched a new e-commerce site ewj.com. The site offers a wide range of products, including; fresh produce, meat, seafood, bakery, household, cosmetics and electrical appliances. Currently it delivers only in Shenzhen. New service promoted through multiple channels In order to promote the new service, the ret...
06 May 2015
China Resources (Holdings) and China Resources Enterprise have reached an agreement that CR will purchase the non-beer businesses of CRE, including its retail, food and beverages businesses for HK$28 billion. CRE will focus on beer and further strengthen its position as the leading brewer in China. The retail division including CR Vanguard and Tesco will no longer be part of CRE. The bigger bu...
20 March 2015
China Resources Enterprise (CRE) announces full year retail sales growth of 15.1% to HK$109.5bn, whilst reporting a loss of HK$1.4bn down -285% on the previous year. Tesco JV and tough trading environment hit hard on profit The main challenge for CRE in the last year have been two-fold: firstly, slowing economic growth in the Chinese market, which has effected both CRE and its key competito...
12 February 2015
China Resources is rebranding the 135 Tesco stores in China and the well-known Tesco trademark in the rest of the world won't be seen any more in China. In the future, all the Vanguard and Tesco stores in China will be using the new logo in red. Source cre.com.hk Ever since CRE and Tesco entered the joint venture in May 2014, the integration of the two businesses has been undergoin...
21 January 2015
China's total consumer goods retail sales grew by 12% year on year in 2014, slower than 13.1% last year. Total retail sales has reached CNY26.2 trillion (USD4.2 trillion) according to Ministry of Commerce. Growth from both urban and rural areas Urban consumption showed a 11.8% year-on-year increase, while rural consumption surged 12.9% in 2014. Even though retail sales from rural areas only a...
14 November 2014
China Resources Enterprise has announced its Q3 results: its retail division achieved turnover of HK$82 bn (US$ 11 bn) for the first nine months of 2014, representing an increase of 14.4% year-on-year. Like-for-like sales also dropped by 2%. The start of integration with Tesco and the slowing growth in the Chinese retail market have affected its performance. The top priority for the retail div...
07 November 2014
Tesco stores in China have started to close in preparation for integration with CR Vanguard, China's second largest grocery operator. Vanguard seeking to 'improve performance' by March 2015 To date the integration plan has been largely behind the scenes with a focus on data sharing. This is taking place at a regional level with a target completion date of early December. In an integrati...