Since opening up its first CU store in Malaysia on the 1st of April 2021 at Centrepoint Bandar Utama, myNews only manage to open another 3 CU stores in the first 6 months.
This is no thanks to the surging Covid-19 cases which brought us MCO 3.0 in which all renovation jobs were not allowed.
Its initial plan to open 30-35 CU stores this year seems to be in jeopardy.
Nevertheless, the management team of myNews quietly works its socks off to make things happen.
After only 4 CU stores in 6 months, now it's going to open 21 CU stores in one month!
It all started with its 5th store which has already launched on 30 Sep21 at IOI City Mall in Putrajaya.
The stores that follow are:
- 16 Oct: SS15 (Subang Jaya)
- 19 Oct: Wangsa Maju
- 23 Oct: Bukit Tinggi (Klang)
- 23 Oct: Solaris (Mont Kiara)
- 23 Oct: Kuchai Maju8 (Kuchai Lama)
- 23 Oct: Radin Bagus (Sri Petaling)
- 23 Oct: Subang Bestari
- 26 Oct: Taman Segar (Cheras?)
- 26 Oct: TTDI
- 26 Oct: Jade Hills (Kajang)
- 27 Oct: Ten Kinrara
- 27 Oct: Tasik Puteri Rawang
- 27 Oct: Sunway Giza (Kota Damansara)
- 28 Oct: Thomson Hospital (Kota Damansara)
- 28 Oct: Jaromas Jenjarom
- 31 Oct: One Utama
- 31 Oct: Puncak Sentul
- 31 Oct: Taman Dato Ahmad Razali (Ampang)
- 31 Oct: Rasah Prima (Seremban)
- 31 Oct: Greentown (Ipoh)
The first two CU stores outside Klang Valley will be in Seremban and Ipoh. Besides, I also read that Johor Bahru is on the way very soon.
So at the end of October, there will be 25 CU stores operating in Malaysia. Its target of 30-35 stores will be surely within reach.
Since it has already come up north to Ipoh, I guess it will open more stores in the northern states as soon as possible to spread the logistic cost.
I guess Penangites will be able to experience CU stores in one to two months time.
At such crazy speed, the total number of CU stores might exceed 50 at the end of this year.
Despite good sales coming in in the month of October, it still will not save myNews from registering big loss in its FY21Q4 from Aug21 to Oct21.
However, I think its FY22Q1 (from Nov21 to Jan22) should be much better.
Revenue should be good, just not sure how's the margin like.
MyNews is a core stock in my portfolio.
ReplyDeleteI hope CU store can open in Penang soon, so that I can experience it and also see how Penangites respond to the products it offers. Up to now, I can only visualize.
If CU's performance can be on par with Family Mart, I will hold MyNews for long term.
I think CU has much more variety of foods/drinks and fancy products, it should do well I guess. Hopefully can come to Penang this year.
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