Lianhua Supermarket Holdings Co, Ltd., one of China's largest retail operators, said that the company will open 15 new large-scale supermarkets every year — including two in Shanghai in 2008.
Liang Wei, general manager of Lianhua Supermarket, said that although inflation in China is serious, the company will still maintain the 2008 ratio between its operating expenses and its sales volume at the level of 2007.
Lianhua Supermarket plans to open 400 outlets, including large-scale supermarkets, supermarkets, and convenience stores, in 2008. At present, it owns 120 large-scale supermarkets across China, of which 25 are in Shanghai. According to the development plan of the company, it will open 15 new large-scale supermarkets every year and its number of stores in the large-scale supermarket sector will be 126 by the end of this year.
At the end of 2007, Lianhua Supermarket had 3,722 stores, including 111 large-scale supermarkets, 1,731 supermarkets, and 1,880 convenience stores. Its net profit in 2007 was CNY268 million, an year-on-year increase of 11.05%.