|By ACN Newswire||
|August 13, 2014 11:08 AM EDT||
Hong Kong, Aug 13, 2014 - (ACN Newswire) - Sun Art Retail Group Limited ("Sun Art Retail" or the "Group"; stock code: 6808), a leading hypermarket operator in China, has today announced its 2014 interim results. For the six months ended 30 June 2014, the Group's turnover increased by 7.9% to RMB48,038 million. Profit attributable to equity shareholders of the company increased by 8.5% to RMB1,710 million. Basic earnings per share amounted to RMB0.18.
-- Opened four new hypermarket complexes, of which one was under the Auchan banner and three were under the RT-Mart banner
-- Successfully secured 162 sites to open hypermarket complexes, ensuring sufficient sites reserves for the Group's expansion in the next three years
-- Officially launched the web-site feiniu.com. As of 30 June 2014, 750,000 members had registered, of whom 167,000 were active members. The number of self-operated items available for sale on line amounted to 120,000
For the six months ended 30 June 2014, gross profit was RMB10,523 million, an increase of 14.0% from the corresponding period in 2013. The gross profit margin was 21.9% compared to 20.7% for the corresponding period in 2013. The increase in gross profit margin was a result of a greater increase in turnover of 7.9% as compared to the increase in cost of sales of 6.3%, reflecting the Group's ability to leverage the economy of scale to improve the gross profit margin.
Mr. Bruno Robert Mercier, the Chief Executive Officer and Executive Director of the Group commented, "During the first half of 2014, China's economy maintained steady growth with gross domestic product growing 7.4% while total retail sales growth of consumer goods dropped 60 basis points when compared to the same period of last year."
"While labor costs are on an upward trend, we will continue to enhance employees' productivity through training and optimized work processes. In response to market opportunities, we have set up a new e-commerce business. The website feiniu.com officially commenced operations on 16 January 2014. Additionally, Auchan Store APP tool was officially launched on 27 June, in order to enhance the shopping experience at our stores and create a deeper relationship with our customers. Finally we are happy to have opened a 8,000 square meters hypermarket complex in Inter IKEA Wuxi LIVAT, a 230,000 square meters shopping center." Mr. Mercier added.
During the period under review, the Group opened four hypermarket complexes, of which one was under the Auchan banner and three were under the RT-Mart banner. Of the new stores, two were located in Eastern China and two in Southern China. As of 30 June 2014, the Group had a total of 327 hypermarket complexes in China with a total gross floor area ("GFA") of approximately 9.02 million square meters. Approximately 65.4% of the GFA was operated on leased space, 34.0% of the GFA in self-owned properties and 0.6% of the GFA as contracted Stores.
In particular, the above mentioned Wuxi LIVAT store is the first of three such cooperation projects with Inter IKEA, the next ones will be in Beijing and Wuhan.
As of 30 June 2014, the Group's turnover from sales of goods rose 7.5% to RMB46,690 million, primarily attributable to its continuous business expansion with the opening of new stores.
Besides, Sun Art Retail recorded a RMB1,348 million turnover from rental income, an increase of 23.1%. This increase was primarily attributable to the rise in rentable area from new stores and an increase in rental income from existing stores as a result of better management of tenant mix.
Store Expansion with 162 sites secured and 102 sites under construction
Optimization of Procurement and Merchandise Mix
The Group continued to enhance direct sourcing of fruit, vegetables and dried vegetables and fruits. We introduced more quality yet price competitive fresh products to our customers. At the same time, the Group continued to provide a greater variety of choices to our customers including customized mass consumer products ("MCP") as well as own branded products under the Disney license with high quality and "fun" packaging.
Successfully launched E-Business platform: www.feiniu.com
During the period under review, our e-commerce business, so-called feiniu.com was officially launched and the operations commenced on 16 January 2014. Currently the delivery area of feiniu.com covers Shanghai, Jiangsu Province, Zhejiang Province and Anhui Province, and the delivery area is scheduled to be rolled out successively to other areas across the nation till the end of 2014. As of 30 June 2014, 750,000 members had registered, of which 167,000 were active members. The number of self-operated items available for sale on line amounted to 120,000 with the coverage of categories of fast moving consumer goods ("FMCG"), bazaar, electronics, fashion, maternal and child products and imported products. feiniu.com will continue to introduce new items to expand the range of offerings . A 40,000 square meters warehouse dedicated to feiniu.com was opened in Shanghai Qingpu district. Along with the expansion of delivery areas, feiniu.com will establish warehouses in other areas across the nation. The business of feiniu.com is not yet contributing to the Group's net profit.
Optimization of Supply Chain Management & Operating Efficiency
The Auchan banner recruited more new suppliers to integrate into its Taicang warehouse. Chibi distribution center of the RT-Mart banner will commence operations in October 2014.
Mr. Mercier concluded "Building on the steady growth of the economy in China, the Group will continue to have a multi-pronged approach to its development in China: Both RT-Mart and Auchan banners will continue to open stores in more regions in China, either as leased or property projects; we will also make necessary investment in I.T. systems and marketing to enhance the very positive trends we start to see in our on-line business."
About Sun Art Retail Group Limited
Sun Art Retail is a leading hypermarket operator in China. Sun Art Retail operates its hypermarket business under two recognized banners - "Auchan" and "RT-Mart". As of 30 June 2014, Sun Art Retail had a total of 327 hypermarket complexes in China with a total gross floor area ("GFA") of approximately 9.02 million square meters. The e-commerce business platform of Sun Art Retail: www.feiniu.com officially commenced operations on 16 January 2014.
Source: Sun Art Retail Group Limited
Strategic Financial Relations Limited Veron Ng (852) 2864 4831 [email protected] Brenda Chan (852) 2864 4833 [email protected] Agnes Luo (852) 2864 4851 [email protected]
Copyright 2014 ACN Newswire. All rights reserved.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
Sep. 3, 2015 02:45 PM EDT Reads: 377
To support developers and operations professionals in their push to implement DevOps principles for their infrastructure environments, ProfitBricks, a provider of cloud infrastructure, is adding support for DevOps tools Ansible and Chef. Ansible is a platform for configuring and managing data center infrastructure that combines multi-node software deployment, ad hoc task execution, and configuration management, and is used by DevOps professionals as they use its playbooks functionality to autom...
Sep. 3, 2015 02:45 PM EDT
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Sep. 3, 2015 02:45 PM EDT Reads: 471
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
Sep. 3, 2015 02:45 PM EDT Reads: 164
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and e...
Sep. 3, 2015 02:30 PM EDT
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Sep. 3, 2015 02:30 PM EDT Reads: 958
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Sep. 3, 2015 02:30 PM EDT Reads: 506
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Sep. 3, 2015 02:15 PM EDT Reads: 411
Puppet Labs is pleased to share the findings from our 2015 State of DevOps Survey. We have deepened our understanding of how DevOps enables IT performance and organizational performance, based on responses from more than 20,000 technical professionals we’ve surveyed over the past four years. The 2015 State of DevOps Report reveals high-performing IT organizations deploy 30x more frequently with 200x shorter lead times. They have 60x fewer failures and recover 168x faster
Sep. 3, 2015 02:15 PM EDT
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small,...
Sep. 3, 2015 02:00 PM EDT Reads: 128
Moving an existing on-premise infrastructure into the cloud can be a complex and daunting proposition. It is critical to understand the benefits as well as the challenges associated with either a full or hybrid approach. In his session at 17th Cloud Expo, Richard Weiss, Principal Consultant at Pythian, will present a roadmap that can be leveraged by any organization to plan, analyze, evaluate and execute on a cloud migration solution. He will review the five major cloud transformation phases a...
Sep. 3, 2015 01:45 PM EDT
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Sep. 3, 2015 01:30 PM EDT Reads: 572
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as...
Sep. 3, 2015 01:30 PM EDT
ElasticBox, the agile application delivery manager, announced freely available public boxes for the DevOps community. ElasticBox works with enterprises to help them deploy any application to any cloud. Public boxes are curated reference boxes that represent some of the most popular applications and tools for orchestrating deployments at scale. Boxes are an adaptive way to represent reusable infrastructure as components of code. Boxes contain scripts, variables, and metadata to automate proces...
Sep. 3, 2015 01:30 PM EDT
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
Sep. 3, 2015 01:15 PM EDT Reads: 102