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April 27 - Suning Appliance Co (SHE: 002024), China's largest chain store by revenue, posted ¥226.4 billion in revenues and ¥951 million in net profits for Q1 2012, up 10% and down 15.3% respectively from a year earlier. The exit of government subsidies for replacing clunkers brought down profitability. It opened 26 stores and closed 35 during the quarter.
http://www.yicai.com/news/2012/04/1671392.html
April 27 - Yonghui Superstores Co (SHA: 601933), a Fujian province-based retailer, said it has opened its first store in Sichuan in Chengdu, the provincial capital. It plans to open another three in the province by the end of this year. Yonghui was previously doing business in 16 provinces and provincial level municipalities across China.
http://www.linkshop.com.cn/web/archives/2012/206468.shtml
April 26 - Turnover at China's deal-of-the-day sites surged 234.1% year on year to ¥4.51 billion in Q1 2012, according to Tuan800.com, a site that collects information about group-buy deals.
http://tech.qq.com/a/20120426/000028.htm
April 21 - Decathlon, a French sportswear and equipment retailer, said it plans to operate 100 outlets in China by the end of 2015 and 999 stores there in the long run without a precise timetable. It was operating 34 stores in 18 Chinese cities as of the end of 2011.
http://www.linkshop.com.cn/web/archives/2012/205643.shtml
April 20 - Tesco said it plans to open 16 stores in China this year as the nation has overtaken the US as the world's number one grocery market. The British retailer currently operates 109 stores in China.
http://www.linkshop.com.cn/web/archives/2012/205449.shtml
$1 = ¥6.28
@2011 China Economy @ The China Perspective.
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