Yonghui news

23 July 2014
Better Life plans to expand further in the Southwest region- investing RMB 1bn (USD 161mn) to build a distribution center in Sichuan province-after spending RMB 1.576 bn (USD 253mn)  acquiring 100% of Guangxi Nancheng Department Store earlier this year. Opening plans in Sichuan Better Life has opened 5 hypermarkets in Sichuan in 2014 and is planning to open 3 more this year. It also has an ag...
28 February 2014
Yonghui posted revenue of RMB 30,543m (USD 4,963m) and net profit of RMB 721m (USD 117m) for 2013, up by 23.7% and 43.5% year on year respectively. In 2013, Yonghui opened 46 new stores with total sales area of 571,100 sqm, half of which are in or close to regions that Yonghui has strong presence. Like for like sales grew by 4.61%. Three-year plan 2014-2016: Yonghui expects revenue and net pr...
30 January 2014
.style1 { text-align: center; }.style2 { text-align: right; font-weight: normal; } Spring Festival, the biggest festival of the year in China, is not only a time for reunions, but also the busiest period in the Chinese retail calendar. During the last Spring Festival holiday in 2013, sales at stores and restaurants around the country surpassed RMB539 bn (USD89 bn). With all the gatherings a...
06 January 2014
Exceeding its 2013 store opening target, Yonghui looks ahead to 60 new stores in 2014. 46 new stores and extended first tier city coverage In 2013 Yonghui opened 46 stores, with half of these launching in the final quarter of the year. This number exceeded the target of 40 stores that the company's President Zhang Xuan Song previously announced. Store openings helped boost store prese...
12 December 2013
China's fastest growing grocery retailer is preparing to open its first two stores in Shanghai by the end of December. Completing tier one city coverage Yonghui has been building its regional coverage from its base in Fujian province, where it built its reputation for excellence in fresh produce. In November the retailer opened its first store in Guangzhou, ahead of the double store o...
04 November 2013
A series of key retail developments in China over the last month will reshape the competitive landscape: we assess the latest news from the grocery market’s movers and shakers. A new phase of consolidation Out of the haze of speculation around potential partnerships in China’s grocery market, two key deals have emerged in the last few weeks. Firstly Tesco’s joint venture with China Resource...
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...
05 June 2013
China , the world’s biggest food and grocery market, is valued at more than US$1tn and is forecast to be worth US$1.5tn in 2016, according to our latest figures. Our research also found: The US grocery market will remain the second largest globally and is predicted to be worth US$1.1tn in 2016. We expect growth to accelerate from a compound annual growth rate (CAGR) of 3.6% between 2010...
09 May 2013
China's fastest growing grocery retailer in 2012 is set to open stores in two additional tier-one cities. Targeting tier-one city entry Based in Fujian province on China's east coast, grocery retailer Yonghui is increasing its national coverage through a rapidly expanding store network. Previously Yonghui has stated plans to operate 350 stores and achieve sales of RMB 50bn (USD 8bn) by 2...
04 April 2013
Retailers Yonghui and CP Lotus report differing full year results, but both highlight the importance of greater centralisation in order to grow profits in 2013. Yonghui continues rapid growth Yonghui reports a strong performance, with total revenue growing 39.2% to CNY24.5 bn (US$3.9 billion)in 2012. Profit grew 8% to CNY502 m (US$80.1 million). In 2012 the retailer opened 47 new stores...