Sheng Siong

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Retail Asia22/04/2022

Singapore’s supermarket chain Sheng Siong aims to open three to five new outlets every year in the country in the near term, the company said in a bourse filing today (Apr 20). The near term plan will be within the next three to five years, and this adds up to 25 stores by the fifth […]

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Retail Asia02/11/2020

Listed Singaporean supermarket chain Sheng Siong’s profit soared 54.4 percent in the third quarter to US$23.27 million, riding a wave of increased sales in the grocery sector. Revenue jumped 28.9 percent to $239.5 million, while gross profit grew 28.7 percent to $64.68 million, largely off the back of increased home cooking and stocking of pantries […]

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Retail Asia03/08/2020

Singapore consumers’ migration from food halls to supermarkets during the Covid-19 pandemic has proven a windfall for grocery operator Sheng Siong Group. Sales for the June quarter surged 75.8 percent to US$304.3 million, gross profit margin improved from 27.4 percent to 28.1 percent and net profit soared 150.7 percent year on year to $33.6 million. […]

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Retail Asia30/04/2020

Singapore supermarket operator Sheng Siong boosted net profit by 49 percent in the March quarter as sales surged due to the Covid-19 pandemic. Sales were up by 30.7 percent in the quarter, or by 19.7 percent on a same-store basis, initially due to stronger Lunar New Year sales. When Singapore’s government introduced a round of […]

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Retail Asia24/02/2020

Singapore supermarket operator Sheng Siong says it plans to open more stores across the city in the wake of a 7.4-per-cent profit increase last year. Sheng Siong Group achieved a net profit of S$75.8 million (US$54 million) for the December year on revenue up 11.3 percent to S$991.3 million, largely due to store network growth. […]

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Retail Asia08/11/2019

Singaporean supermarket chain Sheng Siong has reported a 16.4-per-cent year-on-year increase in net profit to SG$20.6 million (US$15.1 million) for the third quarter. The increase is largely attributed to an increase in gross profit arising from the growth in revenue, slightly improved gross margin, and higher other income – but was partially offset by higher […]

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Retail Asia10/10/2019

The Consumers Association of Singapore (Case) has released an app rewarding users for sharing pricing information to allow comparisons while shopping. Users of the Price Kaki app, which is expected to launch at the end of this month, can submit photos of any prices they come across while shopping for hawker food or groceries, allowing […]

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Retail Asia16/08/2019

Singapore supermarket operator Sheng Siong boosted its net profit by 7.4 percent in the June quarter, to S$18.42 million. Sales rose 11.8 percent to $238.16 million on the back of 13 new store openings. However, the company has warned investors that competition in the Singapore supermarket sector is tough, from both online retailers and rival […]

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Retail Asia08/03/2019

Singapore supermarket chain Sheng Siong Group has reported a 1.4 per cent year-on-year rise in net profit to S$70.5 million for 2018. Revenue, gross profit and gross margin all improved in both the final quarter and full year, but they were offset by a reduction in other income and higher operating expenses. Government statistics show […]

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Retail Asia09/07/2018

Singapore’s Sheng Siong supermarket group is on track to open its 50th store this year, with bids in play for locations in Bukit Batok and Sumang Lane. And an analyst familiar with the business, CGS-CIMB’s Cezzane See, says the group’s pipeline is robust, with at least 10 bids coming up before the year is over. […]

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Retail Asia30/10/2017

Sheng Siong profits rose a stunning 25.3 per cent for the three months to September 30, to S$19.6 million. The supermarket operator cited higher sales, a tax refund and lower operating costs for the improved fortunes. Excluding its $2.2 million tax refund, the profit rise was a more modest 11.5 per cent. Revenue for the […]

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Retail Asia18/09/2017

Supermarket chain Sheng Siong Group (SSG) has put in the highest bid for a 3100sqft (287.9sqm) store in Edgedale Plans, Punggol. It has also submitted the second-highest bid for another store the same size along Woodlands Drive. SSG’s 41,500sqft Woodland store is set to close next month, but two are set to open – a […]

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Retail Asia01/08/2017

Supermarket chain Sheng Siong Group had a 6.1 per cent increase in net profit to S$16.1 million (US$11.8 million) for its second quarter, to the end of June. It attributes this to higher gross profit generated by revenue growth and improved gross margin, partially offset by higher running expenses because of increased activity. Revenue grew […]

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Retail Asia27/02/2017

The Singapore online grocery market is set to more than triple in size over the next three years, according to research house IGD. The global organisation expects sales will rise from the current S$130 million (US$91 million) to S$500 million (US$350 million) by 2020. At the end of 2016, IGD valued online grocery to have […]

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Retail Asia20/11/2016

Even with the sluggish retail sales numbers published by the Department of Statistics, Singapore’s supermarket giant Sheng Siong reported a considerable improvement in earnings for 3Q16. According to the group’s announcement, its net earnings jumped $15.6m, from $14.5m recorded last year. This came after its headline increased marginally by 1.2% to $202m mainly driven by […]

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Retail Asia28/01/2016

The third largest chain of supermarkets in Singapore Sheng Siong loses 90 metal trolleys and 180 plastic ones over its outlets each month. That interprets into a stunning $120,000 loss on just trolleys. Furthermore, this supermarket chain is not the only one. In the previous two years, NTUC FairPrice lost around 1,000 trolleys every year […]

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Retail Asia04/08/2015

A new player in Singapore’s online grocery market – honestbee – is set to bring a unique approach and ramp up the competition. Jonathan Low, co-founder of the new concept, describes honestbee as “an Instacart-like service which assigns a freelance runner to buy groceries on your behalf from the nearest supermarket”. Honestbee is the latest entrant in […]

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