Carrefour China beefs up distribution

Carrefour China has opened a new distribution center is in Hongmei Town, Dongguan, Guangdong province.

It says the centre will play an important role in the supply chain of Carrefour China in South China area, by forming a logistics network covering the Pearl River Delta as well as Fujian and Hainan province, which can increase the logistics efficiency and support stores.

Carrefour is focused on long-term development in China. Since a new development strategy was implemented in March 2015, Carrefour has gradually introduced new formats and initiatives, such as an O2O business, convenience stores and opening hypermarkets in new cities. It says strengthening the supply chain network is the key to implementing the new strategy.

The Carrefour China Logistics Center will provide full support to the 30 stores in Guangdong, Hainan and Fujian province.

During the last two years, Carrefour China has established four distribution centers in eastern, western, northern and central China.

Colourmix parent Veeko International warns of substantial lossColourmix parent and fashion retailer Veeko International has warned shareholders of a “significant increase” in its loss for the half year to September 30. A year ago, the company finished the half HK$19 million in the red, but chairman Johnny Cheng did not estimate the degree of loss in his profit warning issued yesterday. He said the loss was due to “decreased sales for both the cosmetics and fashion segments of the group as a result of the increasing tension of the Sino-American trade war and the further depreciation of Renminbi during the period, which resulted in the continued weakness of the retail environment and abatement in consumption sentiments”. Notably, he did not refer to the social unrest which has adversely affected Hong Kong retailers since early June. But Cheng did say another factor in the loss was a provision for onerous contracts of underperforming retail stores. Veeko International will release its interim results before November 30.

31/10/2019

Carrefour China beefs up distribution

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