All Asia articles – Page 16
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News
Uniqlo to open in prime locations in Japan
Fast Retailing is looking to improve profitability in Japan by opening Uniqlo stores in prime commercial facilities in Tokyo and other major cities. The company plans to open a 7,100 sq ft Uniqlo store in Tokyo Midtown, a new commercial complex in the high-end Roppongi district, as early as next ...
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SM Investments' records retail division profits up 25% to £39m
Supermarket and department store operator SM Investments reported its retail division’s profits were up 25% to PHP2.8bn (£39m) in the first half. The growth was attributed to increased operational efficiency and economies of scale resulting from expansion. Total sales were up 12% to PHP63.4bn (£883m). President Harley Sy said: “We ...
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Lotte Shopping profits increase by 15%
Lotte Shopping has reported strong results for the first half.Gross sales rose 14% to KRW6.6trn (£3.7bn), while operating profit rose 31% to KRW590bn (£329m). Net profit grew 15% to KRW452bn (£252m).
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Dairy Farm sales up 13%
Pan-Asian retailer Dairy Farm delivered a total sales rise of 13% to HK$4.3bn (£375m), for the six months ending June 30.Net profit was up by 17% to HK$181m (£16m).During the period Dairy Farm continued its expansion, adding 127 outlets to reach 5,198. Acquisitions agreed in Malaysia and Singapore will add ...
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Wadhawanto shut Spinach stores
Wadhawan Retail is to shut its Spinach food and grocery stores. Most of the 45 Spinach stores are to close by the end of this month and many suppliers are said to have ended their relationship with the company due to outstanding bills. Spinach has 35 stores in Mumbai and ...
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Almali hopes to resume operations
Baku-based supermarket chain Almali hopes to resume operations following the news that its owner, ADA Group of Companies, is in negotiations with investor CRG Capital to raise funds.Local reports suggest that CRG Capital plans to invest $5m to $7m (£3.27m to £4.6m) in the retail business, which suspended operations in ...
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Lawson and Matsumoto-kiyoshi put off JV plan
Convenience store operator Lawson and drugstore chain Matsumotokiyoshi have put off plans to establish a joint venture until they can confirm the profitability of pilot stores. Initially considered was a plan to combine Matsumotokiyoshi drugstores with Lawson’s high-end convenience stores for health-conscious consumers, but the idea was rejected.
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AnalysisThailand exit likely as Carrefour rationalises
Carrefour has spread itself too thin and now, faced with ongoing pressure from shareholders to improve profitability, is on a path to divest non-core markets.
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Fast Retailing sales up 23%
Fast Retailing, owner of Uniqlo, reported a sales rise of 23% to ¥659.1bn (£4.94bn) for the first nine months of fiscal 2009/10. The fashion retailer reported a profit rise of 35% to ¥67.2bn (£503.4m) for the period, which ended May 31. Fast Retailing is forecasting sales of ¥815bn (£6.08bn) for ...
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Apple opens Shanghai flagship
Consumer electronics giant Apple has unveiled its second flagship store in China. The store, which opened on July 10, is located near Shanghai’s famous Oriental Pearl Tower, in the city’s financial district.“We are thrilled to open the first of many new stores in China in this incredible location,” said Apple ...
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Aditya Birla opens 8th Hydrabad hypermarket
Grocer Aditya Birla has opened its eighth hypermarket in Hyderabad, and taken the opportunity to reiterate its aggressive expansion and private-label strategies.Chief executive Thomas Varghese said that Aditya Birla intends to grow private-label sales to 30% across the FMCG, clothing and general merchandise categories. The group expects to be EBITDA ...
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Fast Retailing enters JV to bring Uniqlo to Malaysia
Japanese fashion retailer Fast Retailing has established a joint venture in Malaysia to develop its Uniqlo chain in the southeast Asian nation.The partnership has targeted the end of 2010 for the opening of the country’s first Uniqlo store, but this could be brought forward to as early as this autumn.“We ...
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Gap plans to open stores in China
US retailer Gap plans to open two stores each in Beijing and Shanghai later this year and will offer online shopping in China.The fashion retailer said the store openings are part of a long-term expansion strategy that involves more stores in major regions, including Hong Kong. The China stores will ...
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Sa Sa profit up 20.6%
Asian beauty retailer Sa Sa reported group turnover for the year ended March 31 rising 13.9% to HK$4.11bn (£350.7m). The group’s profit for the year grew 20.6% to HK$381.1m (£32.5m).In Hong Kong and Macau, the group’s turnover increased 10.3% to HK$3.29bn (£280.8m). Sales in mainland China market increased 61.3% while ...
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Chen Xiao to step down as Gome president
Chinese electronics retailer Gome has announced that Chen Xiao is to step down as president. Xiao will remain as chairman. He has held both roles since January 2009. Wang Junzhou has been named as president.The news follows Gome’s closure of some loss-making stores in recent years.
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Galeries Lafayette opening stores in China and Indonesia
French department store retailer Galeries Lafayette aims to open stores in China and Indonesia. The chain had already opened stores in Beijing, Singapore, Seoul and Tokyo in the 1990s but they were unprofitable and closed down.Galaries Lafayette is taking a more careful approach to Asian expansion this time and has ...
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Samsung Tesco Homeplus in talks to take over Kim’s Club Mart
Samsung Tesco Homeplus, Tesco’s South Korean venture, is in negotiations to take over local retailer Kim’s Club Mart. It has been reported that Samsung Tesco Homeplus has agreed to buy 98% of Kim’s Club Mart for KRW300bn (£165m).
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Best Denki plans 10 Taiwan stores
Japanese electronics retailer Best Denki has revealed plans to open 10 stores in Taiwan by the end of February 2011.At present the retailer operates through 13 shops in the market. The move comes as part of the its plans to increase its presence overseas with 15 to 25 new stores ...
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Fast Retailing plans 200 g.u. stores
Fashion retailer Fast Retailing has revealed plans to have opened 200 stores for its low-cost casualwear brand g.u. in Japan by 2013. The company - which owns Uniqlo - plans to open 25 shops, to bring its total number of stores to about 120, by the end of May. It ...