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Dairy Farm s Hero Group to close Giant supermarkets in Indonesia

PT Hero Supermarket, owned by Dairy Farm International, plans to close its hypermarket banner Giant by the end of July to improve its finances. Some of these will be converted into new outlets for its IKEA, Guardian and Hero banners.

Dairy Farm reports COVID-19 impact on its Q1 2021 operations

Shopper behaviour has now normalised, affecting comparison with sales performance in 2020 Since spending patterns of consumers have now normalised compared with the high sales base in the first quarter of 2020, like-for-like sales of Dairy Farm’s grocery retail business is lower compared to the same period last year.  The Group expects continued pressure on comparing sales and profitability year-on-year due to: This year’s normalisation of shopping behaviour in grocery retail Reduced levels of government support Uncertainty on the relaxation of travel restrictions Mixed performance across the various channels Large store formats: sales performance in Indonesia continues to be the most severely impacted by the pandemic, given the country’s ongoing movement restrictions that has consequently reduced store traffic

Singapore shares fall for third consecutive day as Covid-19 fears persist

SINGAPORE (THE BUSINESS TIMES) - Singapore shares drifted lower on Tuesday (May 4) as locally transmitted Covid-19 fears persist, amid mixed trading in shares across major markets in the region. The benchmark Straits Times Index (STI) fell 0.2 per cent to end at 3,179.13, marking the third consecutive day of decline. The top gainer on the index was Dairy Farm International, which saw its shares rise 1.9 per cent to close at US$4.39. Other top gainers include Thai Beverage and Mapletree Logistics Trust, which rose 1.4 per cent and 1 per cent respectively Finishing at the bottom of the STI performance table on Tuesday was Capitaland, which fell 2.5 per cent to $3.58 as it went ex-dividend.

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