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Food Retail & Distribution

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Yonghui Superstores to use 660 mln yuan to jointly set up bank

Wednesday, 21 Sep 2016 04:00am EDT

Yonghui Superstores <601933.SS>: Says it will use 660 million yuan to jointly set up a bank in China (Fujian) Pilot Free Trade Zone .Says it will hold 22 percent stake in the new founded bank.

Majestic Wine sees profit for current year below market expectations

Wednesday, 21 Sep 2016 02:00am EDT

Majestic Wine Plc : Announces profits below expectations in 2017, but remains on track to hit 3 year plan of 500 mln stg in sales by 2019 . First half of current financial year has proved to be even more challenging with result that commercial sales growth is flat . Anticipate that Naked Wines business will move back into making a small loss for current financial year . EBIT performance for Naked Wines approximately 2 mln stg lower than expectations for FY . EBIT for current financial year ending April 3, 2017 is expected to fall below current market expectations . Need to find a better, more profitable approach for commercial operations; as a result an internal review is now underway . Still on track to resume dividend payments this year and to deliver our goal of 500 mln stg sales by 2019 .Trading on track and making good progress on transformation plan.

InRetail Peru appoints new CFO after Rey Vallarino leaves for Financiera Oh!

Tuesday, 20 Sep 2016 07:40am EDT

InRetail Peru Corp : Said on Monday accepted resignation of Augusto Jose Rey Vallarino from his position of chief financial officer . Appoints Gonzalo Rosell Ramirez Gaston as new CFO . Ramirez Gaston currently holds a position of CFO in Supermercados Peruanos and will keep this post, together with his new position .Says Augusto Jose Rey Vallarino leaves the company to join Financiera Oh! as CEO.


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