FamilyMart plans to add 200 stores


CNA

TAIPEI, Taiwan — Taiwan FamilyMart Co. Ltd., one of the island’s leading convenience store chains, said yesterday it has plans to add 200 stores by the end of this year to meet growing demand.

As a result of this planned expansion, FamilyMart forecasts its sales for 2011 to rise by about 20 percent from a year earlier.

In addition, the chain plans to invest NT$1.5 billion to remodel its existing outlets into specialty stores which set up fresh food sections or open new specialty stores.

Currently, the number of FamilyMart outlets stands at about 2,600, while its specialty stores total 200.

By the end of 2011, the number of specialty stores is expected to rise to 500, the company said.

FamilyMart Chairman Pan Chin-ting said that benefiting from a strong rebound last year in retail sales, which grew by 6.56 percent from a year earlier, convenience store businesses enjoyed an average 8.66 percent increase in revenue.

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

Pan said FamilyMart is riding the wave of restored consumer confidence by offering better services to attract consumers, adding that the specialty stores are expected to become a driver of the company’s future growth.

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

The company has been listed on the local over-the-counter (OTC) market since February 2002.