Yonghui Superstores Announces Chinese Retail Store Data

With the opening of additional six stores, Chinese supermarket operator Yonghui Superstores' retail outlets had reached 204 by the end of 2011.

During 2011, Yonghui Superstores opened 49 new retail outlets and closed one community store, due to the opening of a new anchor store near to that community store. By the end of 2011, the number of its stores reached 204, a year-on-year increase of 31%. In addition, the retail company has signed agreements for another 104 stores.

A representative from Yonghui Superstores said that with the increase of stores, the company expanded rapidly in the market. Compared with 2010, when it only had presence in Fujian, Chongqing, Beijing, Anhui and Guizhou, the company extended into Tianjin, Hebei, Jiangsu, Henan, Heilongjiang, Jilin, and Liaoning in 2011. It has already signed stores in Guangdong, Sichuan, Zhejiang, and Shaanxi.

Apart from the increase of stores, Yonghui Superstores experienced changes in business structure. From the second half of 2010 to the end of 2011, the company opened 70 new outlets, including 22 hypermarkets, 38 marts, seven community supermarkets, and three boutique supermarkets. So far, the retailer has opened 144 hypermarkets and marts, accounting for 71% of its total stores.

With the adjustments to business model, Yonghui Superstores' revenue structure also changed accordingly. In the first half of 2011, its revenue from food had reportedly exceeded that of the sales of fresh goods, and the sales of food contributed the most to the company among all categories.