Business Intelligence on Retailing, Franchising, and Consumerism in China

Carpenter Tan Net Profit Up 2.3%

Chinese maker, distributor, and retailer of small wooden products Carpenter Tan published its performance report for 2014, stating that the company realized operating revenue of CNY298 million, a year-on-year increase of 6.2%; and its net profit was CNY129 million, a year-on-year increase of 2.3%.

According to the company, they turned loss into gain over the past year. However, their expansion gradually slowed. In the future, the company will expand into high-quality county-level city markets while enhancing businesses in core commercial areas in first- and second-tier cities.

In addition, the company will strengthen cooperation with major commercial real estate chains to improve share of shopping center channel. They will also tap the gift market and launch new image stores.

Statistics showed that Carpenter Tan had 1,315 franchised stores in 2011; in 2012, the number increased by 108 to 1,423; in 2013, the company only added four new stores to a total of 1,427; and by December 31, 2014, Carpenter Tan had 1,449 stores across China, a net increase of 22 store compared with 2013.

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