Auchan-owned Sun Art Retail Group, which operates a total of 427 hypermarkets and supermarkets across China, has posted a revenue increase of 4.4% in the third quarter of its financial year.
Operating profit at the group rose by 4.9%, while the profit for the period increased by 2.0%.
Sun Art Retail Group is the second biggest player in the Chinese hypermarket sector, with a share of 13.7%, ahead of Walmart (9.6%) and Carrefour (5.2%) among others.
Between the start of the year and September 30th, Sun Art Retail Group has opened a total of 18 new stores. It now boasts outlets in 216 cities in 28 Provinces, autonomous regions and municipalities across China.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
