Suguo Announces Development Plan For 2009

Ma Jialiang, CEO of the Nanjing based supermarket chain Suguo, has announced the company's development plan for 2009.

He said supported by its stable growth and good performance in 2008, Suguo would continue with its plans to invest over CNY1 billion and open more than 120 directly-managed outlets of different types. These stores will mainly be opened in the second and third-tier markets of Jiangsu and Anhui provinces and the company will focus on the expansion in urban communities and rural areas.

At the same time, the company would hire 10,000 new employees. At present, Suguo's existing 700 directly-managed stores have directly and indirectly provided working opportunities for 40,000 people.

Although affected by the general economic situation, Suguo has still realized its goal of making CNY30 billion revenue in 2008. Of the total income, the sales of its directly-owned stores grew at a rate of more than 30%.

For the coming year, Ma said the company planned to achieve sales of CNY34 billion in 2009 and maintain a double-digit growth rate.