China Resources Vanguard news

12 September 2013
The latest updates on geographical expansion and format development from China Resources Enterprise, operator of the well-known CR Vanguard banner. Next generation premium store CRE has opened its third Ole' store in Shanghai. One of CRE's premium supermarket formats, the retailer plans steady expansion to cater for the market's growing band of affluent shoppers. The store is one of the...
22 August 2013
After last week's announcement that Tesco and China Resources Enterprise (CRE) are considering a joint venture in China, the retailers are now said to be in discussion about a joint bid for the ParknShop supermarket chain. Clear advantages for both CRE and Tesco ParknShop is Hong Kong's second largest retail chain with more than 345 shops in Hong Kong, Macao and mainland China . Acqui...
21 August 2013
The retail division of China Resources Enterprise reported consolidated turnover of HKD 47.9bn (USD 6.2bn), an increase of 13.7%, whilst adjusted consolidated profit declined 4% to HKD 637m (USD 82.1m). CRE delivered double digit revenue growth at company level CRE's total turnover for the first half of 2013 increased 12.3% to HKD 71.9bn and profit decreased by 11.1% (excluding the after...
09 August 2013
Tesco has announced that it has entered into a Memorandum of Understanding with China Resources Enterprise (CRE) and are in exclusive talks to combine their operations in the country. Combination would bring together best of both companies Tesco said that the combination of the two companies' operations would 'bring together CRE’s deep understanding of local customers, established natio...
18 July 2013
The latest news from China Resources Enterprise and Yonghui, two of China's leading domestic retailers. CRE's Suguo on track with store openings Suguo, one of China Resources Enterprise's leading fascias, is on track with store expansion, Chinese press reports. The retailer opened 70 new stores in the first half, reaching a total of 1,400 stores operating under the banner. A further 10...
13 June 2013
One of China's leading grocery retailers revealed plans to boost its store network through the addition of 80 new premium format stores by 2016. High end stores: a small but significant part of the portfolio At the end of 2012 CRE's network encompassed 4,425 stores in Hong Kong and mainland China . Premium formats accounted for only a handful of these: 20 Ole' stores and 11 blt stores. ...
23 May 2013
In the first quarter, China Resources Enterprise's (CRE) retail sales grew 7.3% to HKD 25.9bn (USD 3.3bn) and net profit declined 6.3% to HKD 252m (USD 32.5m). New store openings driving growth A leading grocery operator in the market, CRE's performance in the first quarter was robust, but represents a slow-down compared to its very strong start to the year in 2012. Retail sales growth of 7...
21 March 2013
China Resources Enterprise (CRE) has reported consolidated group sales growth of 14.6% for 2012, with retail division turnover up 19.1%.  Growth at retail division, food division sales down In the retail division, same store sales growth was up 4.1% year-on-year, driven by rising prices of consumer goods, new store openings and a contribution from the acquired Jiangxi Honkelong Department ...
28 February 2013
The Year of the Snake might be the year new leadership in China's national government boosts social reform. If your business is operating in China it needs to start preparing now.  Vicky Ray, IGD's Head of Asia, explains how your business could benefit... Xi Jinping took the helm as head of the Chinese national government in November 2012, with Li Keqiang as the new Premier. Com...
17 January 2013
China is home to the world's largest internet-using population. Whilst e-commerce currently accounts for around 4.3% of total sales, it is an area highlighted for stratospheric growth. We look ahead at how this will shape the grocery retailing landscape in China in our special analysis - China's e-commerce explosion. 2013: China online news round-up Following last November's record-breaking S...