Latest News:  
Beijing   Cloudy/Sunny    33 / 21 ℃  City Forecast

English>>China Business

Beijing hypermarkets report poor first-half results, rise in costs blamed

(Global Times)

08:24, August 28, 2012

Several hypermarkets in Beijing revealed disappointing first-half results over the weekend, Beijing Business News reported Monday.

Wumart reported net profit of 338 million yuan ($53.16 million) for the first half, up just 0.5 percent year-on-year, and well below the growth of 20.1 percent in the same period last year. The net profit of Yonghui superstores declined 28.57 percent year-on-year to 193 million yuan, and Lotus suffered a loss of 79 million yuan.

Retail experts said hypermarkets should consider focusing on specific areas such as groceries.

Li Sheng, vice director of a committee of experts with the China General Chamber of Commerce, said hypermarkets' profit margins have declined, partly as a result of rising costs.

A joint report released on August 16 by Deloitte & Touche and China Chain Store & Franchise Association said that grocery stores with an area of below 3,000 square meters saw an increase both in revenue and customer numbers in the first half of the year, but hypermarkets with an area of between 3,000 and 5,999 square meters saw a drop in revenue and customers.

News we recommend:
Amusement parks boost real estate market Survey shows SOE jobs are top choice CNOOC pushes ahead with Nexen acquisition
The Pain of a Pension Deficit Staying on Target More new grads opt for State firms
Treading Lightly for Fast Growth  Questions raised over stores' price war A fertile ground for overseas banks

Email|Print|Comments(Editor:李倩、厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Female panda born in Sichuan

  2. Cool moments of this summer

  3. Apple losing smartphone battle to Samsung

  4. 2012 China Miss Tourism Int'l crowned

  5. Female stars in see-through dress

  6. The most expensive hotel in Dubai

Most Popular

Opinions

  1. Public needs to see where tax money goes
  2. Should China boycott Japanese goods?
  3. US launches financial attacks against its allies
  4. When will Chinese-style love tragedy move world?
  5. Stakes high for Romney in Republican convention
  6. The costs of luxury spending are booming
  7. Sleeper buses need best mechanic in country
  8. Commentary: Quality of governance essential
  9. Brand positioning through experience
  10. Visits highlight Cairo foreign policy change

What's happening in China

Man pricked by syringe with HIV

  1. Disgruntled ex-employee burns 3 dead
  2. China launches $372 bln pollution reduction drive
  3. 'Special-ability' class taught kids to cheat
  4. Island will boost Pearl River vision
  5. Acid rain hangs cloud over province

China Features

  1. China no longer simply 'world's factory'
  2. Sharp depreciation of yuan unlikely
  3. Special Coverage: Chinese Valentine's Day
  4. Rare tornadic waterspouts appear in Guangxi
  5. Tips for 'Stopping the Heat' [Special]

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai