Business Intelligence on Retailing, Franchising, and Consumerism in China

Nepstar Reports CNY2.8 Million Net Losses In Q3 2015

Chinese pharmaceutical retail chain Nepstar Drugstore published its financial report for the third quarter of 2015, stating that its operating revenue was CNY793 million and it saw net losses of CNY2.8 million.

According to the financial report, Nepstar's operating revenue increased by 7.4% year-on-year to CNY793 million during the reporting period and its sales of individual stores increased by 13.2% year-on-year. Nepstar said that the operating revenue growth was mainly attributed to the effective marketing plans of stores and improvement of product structure.

At the same time, though the company's gross profit was CNY324 million and its gross margin reached 40.9%, a slight increase compared with the second quarter of 2015, it still suffered losses in the third quarter of 2015. With operating revenue of CNY4.5 million, the company reported net losses of CNY2.8 million.

Since 2010, Nepstar's store number continued to decline from 2,582 to 1,948. However, the company's store numbers saw a net increase in the third quarter of 2015, during which it opened 47 new stores and shut down 30 stores. Nepstar's total number of stores was 1,965 by the end of the third quarter of 2015.

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