Magazines Archives - 2007 November

Courts reports profits and increased sales, signs exclusive with Dell
Story 7

COURTS SINGAPORE said that it achieved a net profit of S$1.78 million (US$1.23 million) for the first half of FY07-08, recovering from a loss of S$3.1 million year-on-year. For its second quarter, group sales increased by 21.5% to S$91.1 million over last year’s, with sales in Singapore accounting for 94% of group turnover, an increase of 28%.

Terry O’Connor, CEO of Courts Singapore Limited, said: “While we are seeing a buoyant domestic economy, the external environment continues to be competitive for retailers, with the entry of new players and rising operating costs.”

This year, the group closed down four stores in the north-east region of Thailand and consolidated its business in the southern region. Meanwhile, in Singapore, the new Courts Megastore contributed largely to the increase in sales. “Besides updating our stores, we have also rolled out the key success factors of Courts Megastore into other Courts’ stores to sustain our competitiveness,” added O’Connor.

In another development, the mega consumer electronics and IT retailer has entered into an exclusive retail partnership with Dell, making Dell products available in all nine Court stores island-wide from this month. Distinctive Dell concept areas have been set up in some of the larger Courts stores.

Said O’Connor: “I believe that by tapping on our established store network, Dell will be able to penetrate a new consumer segment to further extend its reach. Likewise, we see great synergies in offering Dell in our portfolio of leading brands.”

Walt Mayo, Dell’s vice-president for consumer sales & marketing, Asia Pacific and Japan, agreed that this provides Dell an opportunity to reach out to customers whom it may not have reached in the past. “Customers are increasingly sophisticated in how they buy and use technology, so it is only natural that a global brand like Dellpartners with Courts to provide a preferred shopping experience,” he said.

Dell, which has made a name in IT retailing through its direct online sales, has also inked similar deals with Bic Camera in Japan, Gome in China, Carphone Warehouse in the UK, Staples in the US and Wal-Mart in the US, Canada, Brazil and Mexico. It opened its first retail store in Russia last month.



2007 November Stories:

Global Food & Style Expo 2008

China’s hypermarket sector set for growth

Coach sets up first flagship store in South-east Asia

BHG opens third heartland store in Singapore

India’s rural retail sector shows promise

Metro shifts focus to private labels in India

Dairy Farm’s Wellcome opened in Ho Chi Minh City

Courts reports profits and increased sales, signs exclusive with Dell

Fast Retailing grows home and overseas business

China’s secondary cities picking up credit-card use

F J Benjamin achieves 38% turnover growth

Auric Pacific Group takes over Délifrance Asia

Unilever Indonesia buys over Ultrajaya’s fruit drinks

US restaurant chain makes China its base for Asian expansion

India poised to become world’s prime food-sourcing hub

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