Beijing Jingkelong To Open 30 New Stores In 2011

Beijing-based supermarket retailer Jingkelong has announced that during the year 2010, it made a 11.2% operating revenue growth, which was mainly attributed to a 9.2% growth in its retail business and a 12.9% increase in the wholesale business.

In addition, due to its retail and wholesale gross margin growth, Jingkelong stated that its overall gross margin increased from 13.9% in 2009 to 14% in 2010.

Jingkelong says that this year it will accelerate its retail network expansion by acquisition and merger, and it strives to open 30 news stores, including two hypermarkets, eight comprehensive supermarkets and 20 convenience stores, among which ten will be regular chain stores and the other ten franchised stores.

In 2010, Jingkelong opened 12 regular chain stores and nine franchised stores in Beijing and Langfang, Hebei. By the end of last year, Jingkelong had 146 chain stores and 90 franchised stores. These stores included 76 supermarkets, eight hypermarkets and two department stores.