Thu, Feb 10, 2011 - Page 12 News List

FamilyMart plans to add 200 stores by year’s end

Staff writer, with CNA

Taiwan FamilyMart Co Ltd (全家便利超商 ), one of the nation’s leading convenience store chains, said yesterday it plans to add 200 stores by the end of this year to meet growing demand.

As a result of the planned expansion, FamilyMart forecast that sales this year would rise about 20 percent from a year earlier.

In addition, the chain plans to invest NT$1.5 billion (US$51.86 million) to remodel some existing stores into specialty shops with fresh food sections as well as build new specialty stores.

FamilyMart outlets currently number about 2,600, while its specialty stores number 200.

By the end of this year, the number of specialty stores is expected to rise to 500, the company said.

FamilyMart chairman Pan Chin-ting (潘進丁) said that last year retail sales benefited from a strong rebound, growing 6.56 percent from a year earlier, and convenience stores enjoyed an average increase in revenue of 8.66 percent.

The company posted NT$42.95 billion in sales last year, up 9.5 percent from 2009, while its number of stores rose by 198 to hit 2,599.

Pan said FamilyMart was riding a wave of restored consumer confidence by offering better services to attract consumers.

He added that the specialty stores were expected to become a driver of the company’s future growth.

According to FamilyMart, the NT$1.5 billion specialty store investment would be the largest-ever injection of funds for the company to remodel its outlets since the company started operations in Taiwan in 1988.

The company has been listed on the local market since February 2002.

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