Chinese Supermarket Chains Hit Speed Bumps in Post-Pandemic Recovery
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China’s largest supermarket operators are struggling to recover from the pandemic as weakening demand continues dragging on sales.
Seven out of the 14 publicly traded supermarket chains reported year-on-year declines in first-quarter sales, according to their financial reports. Four of them posted a net loss during the first three months, compared with nine that were in the red for all of 2022.
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