China: Lianhua to open 350 stores
Lianhua said it will focus on opening convenience stores during the year, continuing the trend in recent years. Of all the new openings, around 180 will be c-stores and will be located in cities such as Beijing and Hangzhou. The group did not say how much it expects to invest on the move.
C-stores accounted for just over 6% of its group revenues during 2011, but they reported a 6.7% rise in sales for the year, higher than any of its other formats. Lianhua noted that overall revenue rose by 6.2% to 27.5bn yuan (€3.3bn), while profit rose by 7% to 800m yuan.
Source: www.kamcity.com
