Financial news
Written by: Lin Leqian
2020-02-21 14:15
Last updated: 2020-02-21 14:15Huang Xinduan, CEO of Sun Art Retail (6808), said during a conference call that Wuhan Pneumonia had a greater impact on the Group's commercial streets, especially the entertainment and catering industry. Some tenants were required to suspend business and some tenants have reopened. At present, the rate of return to work is 57%. It is believed that the rate of return to work can be increased to 75% in half a month. The company has discussed with the government department. It still depends on the development of the epidemic situation. It is believed that the profit of the group will not be affected.
He said that its large supermarkets belong to the necessities of people's livelihood industry, and the sales in January and February of this year were not affected by the epidemic. In particular, the stores that had been renovated earlier had a significant improvement in same-store sales, and the average fresh food category had double-digit growth . In addition, the epidemic has also driven the Group's online sales. It is believed that after the epidemic, the mainland consumption model will change, customer demand for online business will increase, and the Group's transformation plan can drive long-term business development.
Chief Financial Officer Fan Yigang mentioned that the group's original store opening plan has not been affected. The outbreak of new pneumonia has only been one month, and its impact has to be observed. The capital expenditure this year is expected to be 3 billion yuan. He also pointed out that due to the traffic control in many places in the Mainland, the delivery speed of online sales is slower than before, and I believe customers will understand.
Retail stocks
