Wumart reaps golden rewards

Sales at Wumart, Beijing's leading supermarket chain, rocketed 50% over the week-long May Day holidays, the South China Morning Post reported. The company, which is listed in Hong Kong, posted a 42.5% rise in net profit to US$7.8 million in the first quarter. A standardization review of store layout and product range led to an increase in same-store sales of 5.9% over the period. Wumart has market share of between 18% and 19% in the capital, and plans to expand beyond the northwestern China market where it has found success.