DGAP-News: Joyou meets its 2010 store opening target
(firmenpresse) - DGAP-News: Joyou AG / Key word(s): Miscellaneous
Joyou meets its 2010 store opening target
01.02.2011 / 11:55
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Hamburg, 1 February 2011. Joyou AG, a leading branded bathroom solution
supplier in China, opened 80 Joyou branded stores and 118 Grohe branded
stores in the fourth quarter of 2010, bringing the total number of stores
opened in the quarter to 198 new stores. The company thereby expanded its
total Joyou branded retail network to 3,596 and Grohe branded to 143 stores
as of 31 December 2010 (2,527 Joyou branded stores and zero Grohe branded
stores as of 31 December 2009). This represents a total increase of some
48% year on year. Joyou is the exclusive distributor in China for the Grohe
Asian Product Range.
The 80 new Joyou stores opened in Q4 2010 compare to 126 in the same period
2009 and 317 in Q3 2010, bringing the total stores opened in the full year
2010 to 1,069. This slightly exceeds the 2010 plan of 1,000 new stores. The
2010 Joyou store distribution network expansion strategy concentrated on
opening stores in Q2 and Q3 in order to gain maximum sales returns in the
peak season of Q3.
In 2011 Joyou plans to open another 800 stores throughout the year, 300
Joyou branded stores and 500 Grohe branded stores. Further, Joyou will
concentrate on expanding the store size of Joyou stores at some key
locations and on refurbishing many existing stores to accommodate the
increasing product range.
About Joyou
Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces
and sells faucets and other sanitary ware products in China under its brand
name 'Joyou' and is also engaged as a OEM/ODM-manufacturer for
international brands and trading companies in the United States and Europe
as well as other emerging markets. In 2009, Joyou was one of the leading
single-brand manufacturers of bathroom, kitchen and other faucets in China
in terms of revenues (according to BSRIA). Joyou has established an
extensive distribution network in China with 2,527 retail points of sales
as of 31 December 2009.
Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian
Province in China. Joyou's five main product groups sold in its own brand
business are bathroom faucets, kitchen products, shower products as well as
other bathroom products and other faucets and sanitary hardware. In 2009,
Joyou realised group revenues of EUR 172.3 million, an operating profit
(EBIT) of EUR 39.0 million and a net profit of EUR 22.3 million employing
on average 2,529 persons.
For further information, please contact:
Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden(at)kirchhoff.de
or visit the company website at: http://www.joyou.com
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect Joyou's current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialize or if the assumptions underlying any of Joyou's forward-looking
statements are proving to be incorrect, Joyou's actual results may be
materially different from those expressed or implied by such
forward-looking statements. Joyou does not intend or assume any obligation
to update these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
End of Corporate News
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01.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Joyou AG
Chilehaus A, Fischertwiete 2
20095 Hamburg
Deutschland
E-mail: ir(at)joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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110709 01.02.2011
Datum: 01.02.2011 - 11:55 Uhr
Sprache: Deutsch
News-ID 33108
Anzahl Zeichen: 0
contact information:
Kategorie:
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