Asian cities report beijing retail

| June 11, 2017

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Economic overview Retail sales in Beijing continued to increase, up by 5.6% year-on-year (YoY) to RMB525.7 billion in the first half of 2017. Online retail sales also continued to record strong growth momentum, registering a 15.4% YoY increase to RMB94.9 billion, and accounting for 18.1% of total retail sales during the same period. Supply and stock The first half of 2017 welcomed only two new projects. In addition, the market witnessed the conversion of a department store into a shopping mall. By the end of 1H/2017, total shopping mall stock increased to 8.9 million sq m, while department store stock declined to 2.1 million sq m. The new projects of the period included.

Spotlight

The Michaels Companies, Inc.

The Michaels Companies, Inc. is North America's largest specialty provider of arts, crafts, framing, floral, wall décor, and seasonal merchandise for the hobbyist and do-it-yourself home decorator. As of February 27, 2016, the Company owned and operated more than 1,340 stores in 49 states and Canada under the brands Michaels, Aaron Brothers and Pat Catan’s. The Michaels Companies, Inc., also owns Artistree, a manufacturer of high quality custom and specialty framing merchandise, and Darice, a premier wholesale distributor in the gift and decor industry.

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