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Articles by 联商网 崔旭升
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2017 Retail Latest Casualty List! Hypermarket Closure Wave Still Fierce, New Retail Rises
Supermarket listed companies significantly improved profitability in 2017, but adjustments continued. According to Lianshang.com statistics, 14 listed supermarket companies opened 1,169 stores in 2017, up 3.18% year-on-year, and closed 828 stores, up 14.84% year-on-year. By the end of 2017, they operated 11,010 stores in total.
联商网 崔旭升“Five Consecutive Losses” for CP Lotus: Where Is the Way Forward?
CP Lotus, which has been loss-making for four consecutive years, faced another year of sharp decline in performance. On the evening of April 20, CP Lotus released its 2016 annual report, showing sales revenue of 10.086 billion yuan, down 5.4% year-on-year, and a net loss attributable to shareholders of 538 million yuan, compared to a loss of only 18 million yuan in 2015. The company attributed the decline in sales revenue to external factors: the sales contribution from three new stores in 2016 was insufficient to offset an 8.2% decline in same-store sales, and sales in all categories fell year-on-year, closely related to the ongoing economic slowdown, the government's anti-waste campaign, and fierce competition from online retailers.
联商网 崔旭升