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7-Eleven set to slow expansion in China.

Bangkok Post (Bangkok, Thailand)

| March 02, 2006 | COPYRIGHT 2006 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Mar. 2--C.P. Seven-Eleven Plc will slow expansion plans for Lotus Supercentre outlets in China this year after suffering operational losses last year due to stiff competition.

According to deputy chief executive Pittaya Jearavisithul, the company would open ten new supercentres in Shanghai this year, compared with 15 last year.

The company had obtained rights from the Chinese authority to operate Lotus hypermarkets in Shanghai.

With the additional outlets, the total number of Lotus Supercentres in China would reach 48. Each outlet required an investment of three billion baht. The fund would come from cashflow.

He said the company lost ...

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Source: HighBeam Research, 7-Eleven set to slow expansion in China.