Retailing, Franchising, and Consumerism Business Intelligence in China

Wumart: Net Profit Up 63% In 2008

Chinese supermarket and convenience store retailer Wumart Stores has published its annual financial report for 2008 and states that its net profit increased by 63% to CNY490 million in 2008.

According to the report, Wumart realized revenues of CNY9.749 billion in 2008, an increase of 24% compared with the same period of 2007 and its overall gross profit was CNY1.76 billion, up 37.2% year-on-year. In addition, although the prices of food has decreased markedly in the last year, the sales of Wumart's individual stores still increased by 8.1%.

At the same time, Wumart said its costs increased from CNY6.58 billion in 2007 to CNY7.997 billion in 2008.

By the end of 2008, Wumart had 434 retail sites under its management, comprising 104 supermarkets and 330 convenience stores, which are run by joint management, co-management, or direct management.

Wumart said it will continue to expand its retail network in 2009 and will improve the distribution capacity of the company.

1 Comment on "Wumart: Net Profit Up 63% In 2008"

  1. madmilker | May 26, 2009 at 6:46 am |

    tats gr8….

    People in America need to realize jus what got America in this shape…”cheap” yes so-call cheap items from a foreign land.

    quote*Wal-Mart firmly believes in local procurement. We recognize that by purchasing quality products, we can generate more job opportunities, support local manufacturing and boost economic development. Over 95% of the merchandise in our stores in China is sourced locally. We have established partnerships with nearly 20,000 suppliers in China. *end quote!

    Now! if there be 182 country’s making items for the world to buy and they have only 5% of the pie in China…duh! This company makes the nice people of China support their currency(yuan) by keeping it in their country working for the people there…. but with the “yuan” going up in value and the US dollar going down…all the foreign items that the American consumer buys thinking it is cheap has went up in price.

    People…its all about the currency and to keep a currency strong you got to keep it floating around the country you live in so it can work for you. For the past 12 years all them US dollars are being shipped overseas to a foreign bank and with the American worker not making anything for the foreigner to buy the “we the people” have to turn to the “second” largest employer in America(Uncle Sam) to sell “we the people” debt in order to get all them dollars back!

    50 years ago a foreigner would had given their left nut for a US dollar or a Hershey’s chocolate bar and today the same foreigner has got Uncle Sam and the American consumer by both all the while Hershey is moving the chocolate factory to Mexico. Wake up! America and think “MADE IN AMERICA.”

    quote*"Considering that there are over 30,000 ships at sea this morning," writes James Carlton, director of the Williams College-Mystic Seaport Maritime Studies Program, in an e-mail, "the total number of organisms and species in this global 'bioflow' on the morning your readers read your piece could be staggering – billions of individuals, and thousands of species."

    Indeed, scientists have long considered ballast water the primary way invasive aquatic organisms are introduced. From the zebra mussel's arrival in the Great Lakes, to an American jellyfish severely disrupting Black Sea fisheries, the potential costs of accidental introduction of a species to new homes can be tremendous. Aquatic invasives cost the US $9 billion yearly, according to estimates by David Pimentel, professor emeritus of ecology and evolutionary biology at Cornell University in Ithaca, N.Y. Zebra and quagga mussels (a cousin to the zebra) alone cost the $1 billion annually.*end quote!

    tat is $9 billion a year in hidden taxes to all Americans…
    cheap ain't chic and it cost America…………jobs!

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