, Singapore

Don't be fooled by Sheng Siong's 4% sales growth

It was mostly driven by new stores.

CIMB said Sheng Siong's 1Q17's group sales’ 4.1% YoY growth is not something to shout about.

According to the brokerage firm, sales were entirely driven by four new stores (6.2%), flat same-store-sales-growth (SSSG) (0.1%), but dragged down by Loyang (-2.2%) which was closed in April 16 and reopened in February 2017.

The weak SSSG was due to Tampines where renovation works started in late 1Q17, and the weaker sales at its Woodlands store as residents started to moved out due to the government’s selective en bloc redevelopment scheme.
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!