Rainbow Dept Store Announces Performance in 2011


Rainbow Department Store announced recently that its sales revenue increased by 28.1% to 13 billion yuan, its same-store sales by 20.01%, net profit that excluded non-recurring gains and losses and was attributable to its shareholders was up by 20% to 563 million yuan, and its earnings per share reached 0.72 yuan.
For the fourth quarter last year, its sales revenue grew by 23.2% to 3.8 billion yuan and its net profit up by 13.1% to 130 million yuan. The slowed net profit growth for the fourth quarter and the whole year was due to the lower growth rate of same-store sales in the fourth quarter, a loss of 35 million yuan resulting from a contract default and the increased tax burden.
It opened 8 new stores in 2011 and a new outlet shopping center in Beijing on Jan. 6, 2012. There were a total of 51 locations of Rainbow Department Stores by March 2012.


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