Latest news with #newstores
Daily Mail
20-05-2025
- Business
- Daily Mail
Greggs plans to open up to 150 new bakeries this year
Greggs opened 20 new stores in total over the first half of its financial year, as the bakery chain advances towards its goal of more than 4,500 locations across the country. The group, which has 2,638 bakeries across Britain and already has more stores than McDonald's, is planning another 140 to 150 further net new openings this year. New store openings helped drive a 7.4 per cent increase in total sales to £784million over the first 20 weeks of 2025, Greggs said on Tuesday. Like-for-like sales rose by 2.9 per cent over the period, having disappointed with a 1.7 per cent increase in the first nine weeks, which it blamed on a challenging macroeconomic backdrop. Growth at Greggs is also being bolstered by an expansion of its menu. It has recently introduced new items like mac and cheese, chicken burgers and fish finger sandwiches. The group has also embraced longer opening hours into the evening, increased delivery sales through Just Eat and Uber Eats, and launched the Greggs App. Last week, Greggs raised prices on some products by up to 10 pence after a round of increases in January. On Tuesday, Greggs said the construction of its new frozen product manufacturing and logistics facility in Derby and its National Distribution Centre in Kettering 'continues at pace'. Both sites are, as planned, expected to be operational in 2026 and 2027 respectively. The group added: 'The improved LFL sales performance has been delivered in what remains a challenging market context, and during a period that compares with our strongest performance in 2024. 'Our investment programme is on track and there has been no change to the outlook for cost inflation, which we expect to be around 6 per cent on a LFL basis. Our plans for managing the inflationary headwinds are progressing well and, whilst early in the financial year, the Board's expectations for the full year outcome remain unchanged.' In March, Greggs forecast another 'year of progress' after reporting an underlying pre-tax profit of £190million for 2024. However, Shares in Greggs have fallen by around 28 per cent so far this year, reflecting weakness among its core lower-income customer base. Greggs ditches self-service fridges in some stores Greggs has put sandwiches and drinks behind counters in some of its stores to help fend off shoplifters. The bakery chain typically displays the items in self-service fridges, but has ditched this in at least five stores due to a spate of thefts. Its site in Whitechapel, east London, is among those where it has launched the initiative. The business is among a raft of retail firms to have reported a jump in crimes in recent years, including attempted violence against staff members. A Greggs spokeswoman said: 'This is one of a number of initiatives we are trialling across a handful of shops which are exposed to higher levels of anti-social behaviour. 'Customers can expect to see our full range of great value and tasty Greggs favourites available from behind the counter. 'The safety of our colleagues and customers remains our number one priority.'
Yahoo
20-05-2025
- Business
- Yahoo
Niu Technologies (NIU) Q1 2025 Earnings Call Highlights: Strong Sales Growth Amidst Challenges
Total Sales Volume: 2,003,000 units, a 57.4% year-over-year growth. China Sales Volume: 183,000 units in Q1 2025. Overseas Sales Volume: 20,000 units in Q1 2025. Total Revenue: RMB682 million, a 35% increase year-over-year. Gross Margin: 17.3%, a 4.9% increase from the previous quarter. China Revenue: RMB608 million, 89% of total revenue. Overseas Revenue: RMB74 million, 11% of total revenue. Net Loss: RMB39 million, with a net loss margin of 5.7%. Adjusted Net Loss: RMB31 million, with an adjusted net loss margin of 4.6%. Operating Cash Outflow: RMB154 million. Capital Expenditure: RMB24 million, primarily due to new store openings in China. New Store Openings: 384 new stores in Q1, with 50% in tier 3 and tier 4 cities. Guidance for Q2 Revenue: Expected to be in the range of RMB1.3 billion to RMB1.4 billion, a 40% to 50% increase year-over-year. Warning! GuruFocus has detected 4 Warning Signs with NIU. Release Date: May 19, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Niu Technologies (NASDAQ:NIU) achieved a significant 57.4% year-over-year growth in total sales volume for Q1 2025. The company reported a 35% increase in total revenue, reaching RMB682 million compared to the same period last year. Gross margin improved to 17.3%, a 4.9% year-over-year increase, driven by cost reductions and product standardization. Niu Technologies (NASDAQ:NIU) expanded its retail footprint by opening 384 new stores, focusing on tier 3 and tier 4 cities in China. The company anticipates a 40% to 50% year-over-year revenue increase for Q2 2025, indicating strong future growth prospects. Niu Technologies (NASDAQ:NIU) reported a net loss of RMB39 million for Q1 2025, although this was an improvement from the previous year's loss. The average selling price (ASP) in China decreased due to a shift in product mix, impacting revenue per unit. Overseas gross margins were negatively affected by US tariffs, elevated freight costs, and aged inventory write-downs. The micro-mobility market, including kick scooters and e-bikes, experienced flat volume growth and delayed profitability turnaround. Cash position decreased to RMB963 million at the end of Q1 2025, down from RMB1.1 billion the previous year. Q: At the beginning of the year, NIU Technologies guided a 30% to 50% year-on-year growth in sales volume for 2025. Does the company still maintain this guidance? Additionally, what is the margin outlook for the upcoming quarters, and is a net profit turnaround expected in the second quarter? A: Yan Li, CEO, confirmed that the company has not changed its guidance and is on track to meet the projected growth. Fion Zhou, CFO, stated that the annual gross margin is expected to recover from last year's 15.2%, and they anticipate achieving a positive net profit margin in the upcoming quarters. Q: The average selling price (ASP) decreased quarter-over-quarter in Q1, yet the gross profit margin improved significantly. What are the reasons for this, and what is the outlook for ASP in subsequent quarters? A: Fion Zhou, CFO, explained that the ASP drop was due to the launch of new models with lower price points compared to last year's top sellers. The ASP is expected to stabilize in the following quarters, with a rebound anticipated in Q2. The gross margin improvement was attributed to cost reductions and product platform standardization, which are expected to maintain margins above 15%. Q: How is NIU Technologies' cash position expected to evolve by the end of the year, given the current trends and upcoming peak sales seasons? A: Fion Zhou, CFO, noted that Q1 typically shows the lowest cash position due to seasonal factors like the Chinese New Year. However, starting from Q2, with the peak sales season approaching, the company expects an increase in operating cash flow, leading to a higher cash position by the end of 2025 compared to the end of 2024. Q: Despite the negative impact of tariffs on overseas revenue, electric motorcycle sales have shown growth. How should we interpret the growth rate target for overseas operations under these circumstances? A: Yan Li, CEO, stated that the company anticipates significant growth in the electric motorcycle segment, projecting a 5x to 6x increase. For the micro-mobility market, moderate growth is expected, with a focus on turning around profitability despite tariff challenges. Q: What are the expectations for the overseas market, particularly in terms of growth and profitability, given the current tariff situation and market dynamics? A: Yan Li, CEO, highlighted that the electric motorcycle market is expected to experience hyper-growth with high profitability. In contrast, the micro-mobility market, including kick scooters, is expected to see moderate growth with a focus on achieving profitability, despite the tariff impacts. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-05-2025
- Business
- Yahoo
Weis Markets ramps up store development
You can find original article here Supermarketnews. Subscribe to our free daily Supermarketnews newsletter. Weis Markets on Wednesday said it plans to open three new stores in 2025 and one in early 2026, marking its first new-store construction since 2022. The Sunbury, Pa.-based company unveiled the plans as it reported an 11.6% decrease in net income for the first quarter, to $20.5 million, compared with the first quarter of a year ago. Revenues were up 1.6%, to $1.2 billion, and comparable-store sales rose 1%. Adjusting for the Easter holiday, which took place in Q1 last year but in Q2 this year, the company estimated that Q1 sales rose 2.7% and comp-store sales rose 2.1% in this year's first quarter. 'During the quarter, our net sales benefited from significant regional weather events, continuing product price investments, and the increased tempo of our loyalty marketing rewards program,' said Jonathan H. Weis, chairman, president, and CEO. The company did not disclose specific reasons for the profit decline relative to a year ago, although Weis noted that the company was making 'strategic cost investments' in its workers and in technologies aimed at improving efficiencies and enhancing the customer experience. Although Weis Markets' gross profit as a percent of sales was about even with the year-ago first quarter, its operating, general, and administrative expenses (OGA) rose about 3%, to $276.5 million. Investment income was also down about $1.1 million in the most recent quarter. A spokesman for the company declined to elaborate on the profit decline. The company said all four of the new stores in construction will measure more than 60,000 square feet, well above the 49,000 average square footage for a Weis supermarket. The planned openings for this year are in Lake Linganore and Charlotte Hall, Md., and Middletown, Del. The fourth store is slated to open early next year in Waldorf, Md., the Weis spokesman told Supermarket News. Each of the new locations will include new features, expansive fresh departments, fuel centers, and sustainable technologies, the company said. In its 2024 annual report, Weis said several construction projects from recent years had been delayed due to labor and supply chain disruptions. Last year Weis completed six major remodels, nine minor remodels, and opened two new fuel centers. The company also acquired two former Sunnyway Food stores in Pennsylvania last year and ended fiscal 2024 with 198 locations. 'Our first quarter 2025 results, adjusted for the year-over-year Easter holiday shift, are in line with our expectations despite the challenges of an uncertain macroeconomic environment.'—Jonathan H. Weis, chairman, president, and CEO, Weis Markets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
06-05-2025
- Business
- CBS News
Pittsburgh International Airport opens 5 new stores
Pittsburgh Regional Airport has unveiled five new stores as the airport continues its transformation ahead of the opening of the new terminal later this year. Ribbon cuttings took place Tuesday morning to showcase two Hudson travel convenience stores, Champion City Sports, Duquesne Supply Company, and MAC Cosmetics. "The new shopping and dining options include a vibrant mix of shopping from fashion to cosmetics and gifts, along with additional healthy quick service dining and on-trend sit-down restaurants/bars, some with fantastic airfield views," per a press release from the Allegheny County Airport Authority. Champion City Sports "celebrates Pittsburgh's rich sports culture" by offering clothing, memorabilia, and accessories highlighting the Steelers, Penguins, and Pirates. Duquesne Supply Company will showcase Pittsburgh's local culture with Pittsburgh-themed merchandise. Some products will showcase Pittsburgh's local language, "Pittsburghese," with items adorned with popular terms like "yinz" or "nebby." These items are sourced from local brands like love, Pittsburgh and Cox Woodwork. Two Hudson travel convenience stores will offer books, magazines, snacks, confectionery, beverages, and local souvenirs, among other travel necessities. MAC Cosmetics will sell a variety of makeup products for all ages, races, and genders.
