Hong Kong, June 22 - Many major retailers are scaling back or delaying their expansion plans in China amid slower demand and stiff competition, allaying earlier investor concerns about their over-expansion.
Following are some recent comments from major retailers on their China expansion plans.
* China Resources: The Chinese supermarket chain and convenience store operator plans to open 200 new stores instead of 300 planned earlier.
* Xinyu Hengdeli: The China-focused luxury watch retailer aims to now expand its network to 300 stores by 2011, instead of 2010, from 210 outlets now.
* GOME Electrical Appliances: China's top electronics retailer aims to maintain its retail network at near 1,300 stores in 2009 even as it closes up to 100 poorly performing outlets.
* Anta Sports Products: China's top sportswear retailer by market value, plans to add around 900 stores in China this year, bringing the total to 6,600, It added about 950 new stores in 2008.
* Fashion retailer Giordano International has shut 14 stores in China in the first quarter of 2009.
OTHER RETAILERS
* Li Ning Company plans to expand its sales channel in second- and third-tier cities. It added 672 new stores in 2008, against 443 new stores a year ago.
* Chinese convenience store operator KPI Co Ltd plans to open 40 convenience stores in Beijing this year, and expand its network to more than 500 in the mainland.
* Esprit Holdings, the world's No.6 fashion brand, is confident of meeting its target of adding 110 outlets in the year to June. It opened 77 stores in the first half of 2008/09.
* Pou Sheng International, a sportswear retailing arm of Yue Yuen Industrial, is buying rival Dalian Dongzhijie Sports Production Development Co., which has 464 stores in 6 provinces in China.
* Lianhua Supermarket added 464 new outlets to its hypermarket, supermarket and convenience store network as of end-2008.
* Top Chinese footwear distributor Belle International said it would expand the number of its outlets by 15-20 percent this year.
WHAT OVERSEAS COMPETITORS DO
* Carrefour expects to open 28 new China stores this year, up from 22 in 2008.
* Wal-Mart Stores Inc, the world's biggest retailer, has launched a pilot programme to open convenience stores in China.