Sales of China's top 100 chain stores hit 1.65t yuan

BEIJING - Sales of the top 100 chain stores in China totaled 1.65 trillion yuan ($238.63 billion) last year, according to data released by an industry association on Monday.

China Chain Store and Franchise Association said at a press conference that the figure was revised from more than 2 trillion yuan previously after the association adjusted its statistical caliber to ensure accuracy.

Shanghai Bailian Group ranked first in the list, with its sales volume hitting 118.21 billion yuan, followed by Suning Appliance and Gome, with each registering sales of 110 billion yuan, the association said.

Overseas chain stores Carrefour and Wal-mart saw their sales reach 45.2 billion yuan and 43 billion yuan, ranking the seventh and the ninth, respectively, it said.

Guo Geping, chairwomen of the association, said some companies even saw negative growth in the first quarter.

Guo said the retail sector has to cope with a changing domestic consumer group, which is younger and richer than that of the past.