Rainbow Department Store recently published its semi-annual performance report for the first half of 2019, stating that both of its operating revenue and profit gained favorable results.
According to the report, Rainbow achieved operating revenue of CNY9.676 billion during the reporting period, a year-on-year increase of 1.61%; and its total profit was CNY646 million, a year-on-year increase of 4.09%. Meanwhile, the company's operating revenue increased by 4.57% year-on-year in the second quarter of 2019; and its total profit increased by 5.28% year-on-year.
The report showed that Rainbow's retail revenue was CNY8.984 billion, a year-on-year decrease of 0.23%, and it accounted for 92.85% of its total operating revenue; the company's real estate revenue was CNY369 million, a year-on-year increase of 55.49%, and it accounted for 3.81% of its total operating revenue; and its other business revenue was about CNY323 million, a year-on-year increase of 15.37%, and it accounted for 3.34% of its total operating revenue.
During the reporting period, Rainbow had entered eight provinces and city, including Guangdong, Jiangxi, Hunan, Fujian, Jiangsu, Zhejiang, Beijing, and Sichuan. The company had 15 shopping centers, 68 department stores, 82 supermarkets, and 152 convenience stores, with a combined area of 3.2 million square meters.
In addition, Rainbow continued its store network expansion and opened two new shopping centers and 18 new convenience stores in the first half of 2019.