According to reports in French local media, French supermarket group Auchan announced its decision to leave China and sell its subsidiary and 484 stores, which are operated by Sun Art Retail, to Alibaba for EUR3…
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Yonghui Supermarket Net Profit Up 35.36% In H1 2020
Yonghui Supermarket recently published its semi-annual report for the first half of 2020, stating that it realized operating revenue of CNY50.52 billion, a year-on-year increase of 22.68%; and its net profit was CNY1.854 billion, a…
Costco Suzhou Store Formally Started Construction
According to reports in Chinese local media, Costco's Suzhou store gained a substantial progress and formally started construction.
Alibaba LST GM To Take Over RT-Mart
According to reports in Chinese local media, Lin Xiaohai, Alibaba's vice president and general manager for LST, will be new CEO of RT-Mart and directly report to Alibaba CEO Zhang Yong.
China's Largest Sam's Club Starts Building In Shanghai
According to reports in Chinese local media, China' largest Sam's Club has started construction in Shanghai.
Wal-Mart China Welcomes First Female CEO
According to information from Wal-Mart China, the company has appointed Zhu Xiaojing as president and CEO, effective on May 8, 2020.
Hema To Build Industrial Base, Headquarters In Shanghai
According to reports in Chinese local media, Hema's industrial base recently started construction in Shanghai's Pudong New Area.
Sam's Club To Open Flagship Store In Shanghai
Wal-Mart announced via its official WeChat channel that Sam's Club will launch a flagship store in Shanghai and it is expected to open in 2021.
Tesco To Sell China Asset To China Resources
British supermarket group Tesco announced that they would sell its 20% share to cooperation partner China Resources for GBP275 million, which is about CNY2.5 billion.
Sam's Club To Open Second Store In Ningbo In April 2020
According to reports in Chinese local media, Sam's Club will open another new store in Ningbo in April 2020, following its first store opened in May 2019.