Convenience Retail Asia

Retailer to expand circle on mainland China

Chief executive Richard Yeung expects consumer sentiment to improve in the second half of this year. Photo: Dickson Lee

Convenience Retail Asia, operator of Circle K convenience stores and Saint Honore cake shops, is looking to double the number of Saint Honore outlets in Guangzhou and other surrounding cities to approximately 80 this year.

Thursday, 28 March, 2013, 6:31am

Hang Ten soars on HK$2.65b buyout bid

Shares of apparel retailer Hang Ten surged to a 12-month high yesterday on news of a takeover bid by Victor Fung Kwok-lun and his brother William, owners of trading firm Li & Fung.

21 Dec 2011 - 12:00am

CRA profits soar, but costs a concern

Convenience store and cake shop operator Convenience Retail Asia (CRA) saw net profit surge by more than a third in the first half of this year, it reported yesterday. However, the company warned that the minimum wage, an increase in tobacco taxes, rising rents and food costs would all challenge its growth.

28 Jul 2011 - 12:00am

Brother replaces brother at Li & Fung

Victor Fung Kwok-king (right), the chairman of trading house Li & Fung, is to pass the helm to his brother in a management reshuffle that will push ahead an aggressive three-year business plan.

Managing director William Fung Kwok-lun was elevated to executive deputy chairman yesterday and will take the chairman's post at the annual shareholders meeting next year.

19 May 2011 - 12:00am

Convenience Retail Asia to spend HK$50m on stores

Convenience Retail Asia, which operates Circle K convenience stores and Saint Honore cake shops, plans to invest HK$50 million this year to open 70 new stores in Hong Kong and the mainland. The group yesterday announced its year-end results, which saw a 6.7 per cent increase in revenue in 2010 to HK$3.58 billion.

10 Mar 2011 - 12:00am

Li & Fung eyes US$1b in retail unit spin-off

Family-owned group plans HK initial public offering this year

The family of Li & Fung Group, owner of Hong Kong's listed blue-chip retail supplier, plans to raise about US$1 billion by spinning off its privately owned mainland and Asia-Pacific retail business in an initial public offering in Hong Kong later this year, according to market sources.

17 Mar 2008 - 12:00am

Bakery helps CR Asia net HK$38m

Convenience Retail Asia, the Li & Fung unit that operates Circle K stores, said half-yearly net profit rose 15.6 per cent after it acquired bakery firm Saint Honore.

Net profit rose to HK$37.5 million for the six months to June from HK$32.4 million a year ago.

3 Aug 2007 - 12:00am

CR Asia posts 2pc gain in earnings

Convenience Retail Asia, the Li & Fung unit that operates Circle K stores, expects its loss-making mainland operation to break even in 2009, two years later than originally estimated.

8 Mar 2007 - 12:00am

Convenience Retail to franchise Circle K brand in China

Convenience Retail Asia, whose stores compete with 7-Eleven outlets in Hong Kong, is for the first time to franchise some mainland outlets under its Circle K brand once its loss-making operation turns around and possibly as soon as next year.

16 Dec 2006 - 12:00am

CR Asia buys stake in Korean chain as net profits rise

Convenience Retail Asia, operator of Circle K stores, plans to buy 33 per cent of South Korea's fourth-biggest convenience store chain next year, aiming to complete a buyout within three years.

3 Aug 2006 - 12:00am

Circle K operator takes an extended view of mainland

Convenience Retail Asia (CRA), which operates Circle K stores in Hong Kong and southern China, plans to extend its business to Shanghai and Beijing and double the number of mainland outlets to about 130 this year.

10 Mar 2006 - 12:00am

Circle K operator targets sales of $2b as number of shops rises

Convenience Retail Asia (CRA), the operator of almost 250 Circle K stores in Hong Kong and the mainland, hopes to grow sales 14 per cent to $2 billion for the year to December as it opens more stores.

4 Aug 2005 - 12:00am

Circle K operator to expand in mainland

Scepticism greets CRA's break-even target as it unveils plans for 500 stores

Convenience Retail Asia (CRA), the operator of the Circle K chain, plans to open nearly 500 stores in south China over the next three years, making it the largest player in the region.

6 Jan 2005 - 12:00am

STORE CHAIN MAKES 27PC LESS PROFIT

Convenience Retail Asia (CRA), which operates the Circle K convenience stores in China and Hong Kong, recorded a 27 per cent drop in net profit for the first quarter because of start-up losses and higher operating costs from two news stores in Guangzhou. The company said net profit for the first three months fell to HK$7.3 million from HK$9.9 million a year ago.

29 Apr 2003 - 12:00am

EARNINGS RISE AT CRA

Growth Enterprise Market-listed Convenience Retail Asia (CRA), the operator of Circle K, announced full-year profit rose 10.2 per cent to HK$72.1 million for the year to December. Turnover was HK$1.4 billion, up 6.8 per cent from a year ago.

15 Mar 2003 - 12:00am

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