Jiangsu-based supermarket operator Suguo has announced its sales report for the first quarter of 2011, stating that its overall sales reached over CNY11 billion, a year-on-year increase of over 20%.
The company also revealed that it plans to open 1,200 new small stores in the next five years to fill the market void. At present, Suguo has about 700 small stores, but there is still large development space according to related market surveys.
The planned 1,200 small stores will be launched under its three different brands, including Suguo Superstore, Suguo CVS, and Howdy CVS; and these stores will be mainly opened in Jiangsu, Anhui and Hubei. About 30% of these new stores will be reportedly opened in Nanjing, capital of Jiangsu province. The retailer further revealed that it will open about 80 new sites in Nanjing in 2011 alone.
In the future, Suguo's new small stores will continue to improve its business categories by adding fresh food products like bread and fast food; increase the amount of Chinese and international well-known brands as well as high-end brands; and raise the ratio of imported products.