The increase was primarily driven by the six new stores, which contributed a 2.5% y-o-y increase to total sales. This was partially offset by a lower revenue contribution from the Yishun store that was closed in FY2022 due to lease expiration.
Local supermarket operator Sheng Siong announced that its earnings for FY2023 ended Dec 31, 2023 came in at $133.7 million, just 0.3% higher than $133.3 million a year ago.
Revenue for the period saw a slight growth of 2.1% y-o-y to $1.37 billion from $1.34 billion a year ago.
