Sun Art Continues Facing Challenges in the Structural Change of Retailing Market
Sun Art announced disappointing first-quarter earnings with revenue up by 2% and a flattish operating margin of 5%. This compares with our full-year estimates of revenue growth of 4.4% and operating margin of 3.5%. The same-store sales growth, or SSSG, was weak in January and February, which was partly impacted by the decrease of the food CPI compared with the same period last year. The SSSG in March and April has seen recovery. We think that the top-line growth in the coming quarters might see ...Sun Art Retail Group is an investment holding company, engaged in the operation of hypermarkets in the People's Republic of China (PRC), under two banners of Auchan and RT-Mart. As of Dec 31 2014, Co. had a total of 372 hypermarket complexes in China, with a total gross floor area of approximately 10,277,525 sq. m.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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