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China Nepstar Chain Drugstore Ltd. Reports First Quarter 2013 Financial Results
Date:5/27/2013

SHENZHEN, China, May 28, 2013 /PRNewswire-FirstCall/ -- China Nepstar Chain Drugstore Ltd. (NYSE: NPD) ("Nepstar" or the "Company"), the largest retail drugstore chain in China based on the number of directly operated stores, today announced its unaudited financial results for the first quarter ended March 31, 2013.

Financial HighlightsFor the quarter ended March 31, 2013:

  • Same store sales increased by 6.1% compared with the first quarter of 2012
  • Revenue increased to RMB627.4 million (US$101.0 million) from RMB625.8 million in the first quarter of 2012
  • Net income increased slightly to RMB7.1million (US$1.1 million) from RMB7.0 million in the first quarter of 2012
  • Basic and diluted earnings per American depositary share ("ADS") were RMB0.07 (US$0.01), the same as in the first quarter of 2012
  • "We are pleased to see continuing same store sales growth in the first quarter of 2013, compared with the same period of 2012," Mr. Fuxiang Zhang, Chief Executive Officer, commented. "Our focus on increasing store efficiencies and maximizing customer transactions per visit, enabled the Company to maintain top line growth momentum, even given a lower store count. In the current competitive market environment, we strive to broaden and optimize our product portfolio. We believe that our dedication to product line development and optimization has provided a solid foundation for the company to stabilize its gross margins over time."

    First Quarter ResultsDuring the first quarter of 2013, the Company opened 25 new stores and closed 63 stores. As of March 31, 2013, the Company had 2,094 directly operated stores in total.  

    Revenue for the first quarter of 2013 increased by 0.2% to RMB627.4 million (US$101.0 million) from RMB625.8 million f
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    SOURCE China Nepstar Chain Drugstore Ltd.
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