Wal-Mart plans to invest $24 million in opening five new stores in different Sichuan cities and is considering building its fourth China logistics center in the province. Wal-Mart China Senior Business Director Liao Honghui said that the company has spent more than $100 million opening over 30 stores in western China in the past ten […]
Category: Consumer
Japanese trading house Itochu said it will buy a 3% stake in Japanese supermarket operator Uny to expand into China, Reuters reported. Uny, which also runs the Circle K Sunkus convenience store chain, plans to open 10 supermarkets in China. Itochu will purchase Uny shares on the market by the end of March 2010 for […]
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Filling a Gap
Retail continues to be a hot sector in China – while national sales figures can be misleading (as we discussed in our October issue) – that doesn’t change the fact that Chinese consumers have continued to shop. They’re not all buying the same things, of course – anyone who keeps track of labels on the streets will […]
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KFC, Pizza Hut grow in China
The US company that owns KFC and Pizza Hut boasted growth of 11% in China in the third quarter of 2009, Bloomberg reported. Yum! Brands, based in the US state of Kentucky, opened 267 new restaurants worldwide between June and September, 88 of which were in mainland China. The company’s growth in China offset its […]
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How golden was Golden Week?
The National Holiday week, or Golden Week, is a key time to see whether the Chinese are splurging in the shops. And there’s plenty of good news for retailers. According to the Shanghai Daily, retails sales in Shanghai were more than 1.2 billion yuan ($176 million) in the first three days of the National holidays. […]