August 30 – Italian luxury goods retailer Giorgio Armani plans to open 35 stores in China annually during the coming years, said Asia Pacific CEO Fabrizio Dosi. It currently operates 180 stores in the country, and regional revenue climbed 36% in 2010.
August 30 – Gome Electrical Appliances Holding Ltd (HKG: 0493), China's second largest chain store by revenue, posted ¥29.81 billion in revenues and ¥1.25 billion in net profits for 1H 2011, up 19.8% and 30.1% year on year respectively. It opened 131 stores during the period and plans to open 260 new stores this year.
August 30 – Guangzhou Brandbuy Co (SHE: 002187), a leading local retailer, posted ¥3.4 billion in revenues and ¥110 million in net profits for 1H 2011, up 24.2% and 19.5% year on year respectively. It had no new openings over the period, but plans to open four new locations in 2H 2011.
August 30 – Online retail sales increased 22-fold to over ¥450 billion in the past five years, according to the Ministry of Commerce.
August 25 – Li Ning Co (HKG: 2331), a leading Chinese sportswear retailer under the same brand, expects to close 400 stores in 2H 2011 to minimize a decline in gross margin amid rising raw material costs.
$1 = ¥6.38
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