reader Posted June 3, 2021 Posted June 3, 2021 From The Thaiger / Bangkok Post The operator of the 7-Eleven chain of convenience stores has confirmed it will open another 700 shops in the Kingdom this year. According to a Bangkok Post report this morning, CP All plans to spend between 11.5 and 12 billion baht on expansion in 2021. The company has opened 155 new 7-Eleven stores so far this year, meaning there were 12,587 CP All-operated stores by the end of the first quarter of 2021. Chief Financial Officer Kriengchai Boonboapichart says around 4 billion baht will be invested in new projects, subsidiaries, and distribution centres. Between 3.8 and 4 billion will be spent on store expansion, around 2.5 billion on renovating existing 7-Eleven stores, and around 1.4 billion on IT systems and fixed assets. 2020 total reported revenue for CP All was 547 billion baht, down 4.3% from 2019, and net profit was down by 27.9% at 16.1 billion baht. During the first quarter of 2021, total revenue has dropped by 8.5% year-on-year, with net profit dropping by 54%. The fall is largely attributed to the Covid-19 pandemic, which has led to decreased consumption and purchasing power, as well as the drop in tourism. Customers habits are also shifting to favour online shopping, and CP All is continuing to focus on offerings such as 7-Eleven Delivery, All Online, and 24Shopping. https://thethaiger.com/news/business/another-700-7-eleven-stores-to-open-across-thailand vinapu 1 Quote
vinapu Posted June 3, 2021 Posted June 3, 2021 as my former boss used to say ' never waste good recession" Quote
Guest Posted June 3, 2021 Posted June 3, 2021 There have also been 7-Eleven closures, which perhaps they forgot to announce ? I've seen numerous examples. The local press were onto it as well: https://www.pattayamail.com/news/closed-7-elevens-highlight-pattayas-economic-collapse-33461 Quote
PeterRS Posted June 4, 2021 Posted June 4, 2021 There used to be three 7 11s quite close to me. The closest put up the shutters about 6 months ago. Then guess what? A new 7 11 three times larger opened two months later that is even closer! You win some, lose some I guess. TotallyOz 1 Quote
TotallyOz Posted June 4, 2021 Posted June 4, 2021 I have seen 3 all in a 100 meter area. Doesn't make a lot of sense to me but they must be making money. Quote
10tazione Posted June 4, 2021 Posted June 4, 2021 Wasn't there some announcement a while ago (2 years ago???) that Tesco Lotus is retreating from Thailand? Then this would sound like 7 is taking over some of their shops? Quote
reader Posted June 4, 2021 Author Posted June 4, 2021 Yes, CP Thailand Group agreed to purchase the Tesco-Lotus businesses in Thailand and Malaysia last year. I believe the sale has since passed possible anti-trust considerations and has been completed. Don't know whether they plan to re-brand the stores as 7-11's but I assume that consolidation of locations is inevitable. From the Straits Times BANGKOK (REUTERS, BLOOMBERG) - Tesco agreed to sell its businesses in Thailand and Malaysia to Thai billionaire Dhanin Chearavanont's CP Group for for an enterprise value of US$10.6 billion (S$14.6 billion) and will return almost two-thirds of the proceeds to shareholders. The deal to buy Tesco's 2,000 Thai retail outlets marks the end of a three-way tycoon tussle - and the beginning of the first engagement for Thailand's newly powerful antitrust watchdog. The British grocery chain chose Mr Chearavanont's operator of 12,000 7-Eleven convenience stores over the Chirathivat family's Central Group of Companies Ltd - Thailand's biggest retailer by market capitalisation - and beer magnate Charoen Sirivadhanabhakdi's TCC Group Co, said people with direct knowledge of the matter. CP Group runs its 12,000 7-Eleven convenience stores through CP All PCL and about 80 cash-and-carry stores under Siam Makro PCL. It will gain control of 1,965 stores Tesco operates in Thailand - much of which the British firm bought from CP Group during the 1997-8 Asian financial crisis. Included are 200 Tesco Lotus hypermarkets and 1,600 Tesco Lotus Express convenience stores. It will also buy 74 outlets in Malaysia. Quote
vinapu Posted June 6, 2021 Posted June 6, 2021 6 hours ago, MunichCut said: I missed the 7 - Eleven Doorbell . I always feel sorry for employees enduring that nonsense, specially in buy places where it sounded non-stop MunichCut 1 Quote
