Xinhua Department Store (600785.SH): The sales contribution of private-label products in its new-quality retail stores is relatively low, not exceeding 10%.

Gelonghui, July 17 — Xin Hua Department Store (600785.SH) stated on an interactive platform that, at this stage, based on the overall performance of its supermarket formats, the sales contribution from private-label products in its upgraded new-format retail stores ("fat-to-slim" transformation stores) remains relatively low, at no more than 10%. In contrast, its hard-discount stores demonstrate a pronounced advantage in their product supply chain, with private-label products accounting for approximately 60% of sales. The company has developed tiered private-label product lines tailored to each format: the new-format retail stores focus on premium offerings such as bakery, prepared foods, and fresh produce to align with quality-conscious consumer demand, while the hard-discount stores emphasize simplified packaging and bulk-sized essential goods, leveraging the group’s centralized procurement and direct sourcing capabilities.

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