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Chinese supermarkets hit speed bumps in post-COVID recovery

Q1 sales decline for 7 of 14 publicly traded chains, with 4 posting net losses

China’s retail sales have revived this year after the country abandoned strict COVID controls, but the recovery of large supermarket chains is lagging.

China's largest supermarket operators are struggling to recover from the pandemic as weakening demand continues to drag on sales.

Seven out of the 14 publicly traded supermarket chains reported year-on-year declines in first-quarter sales, according to their financial reports. Four of them posted a net loss during the first three months compared with nine that were in the red for all of 2022.

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