Retail

Fat Donglai refuted rumors of mass store closures, clarifying that founder Yu Donglai’s remarks about past closures were taken out of context. The retailer, which reported $1.56 billion in sales, highlighted strong financial performance and revealed generous employee perks, including an average monthly salary of $1240 and plans for a 36-hour work week with 40 days of annual leave.

Lightspeed Commerce Inc. has reached an agreement in principle to resolve a proposed class action in Quebec, following the dismissal of a parallel U.S. securities class action. The settlement, subject to court approval, will resolve all claims without Lightspeed admitting liability. Founder & CEO Dax Dasilva stated the settlement allows Lightspeed to focus on strategic growth, for approximately $8.09 million.

Murphy USA (MUSA) will present at upcoming investor conferences, sharing preliminary Q2 2025 results. Fuel margins were 31.7 cents, while volumes rose 0.5% overall but decreased 1.1% on a same-store basis. Merchandise sales increased, but both nicotine and non-nicotine sales faced headwinds. Operating expenses rose 2.8% per store. The company operates over 1,750 stores and has new store constructions underway.

JD.com’s second Beijing JD Mall opened in Shuangjing, attracting crowds with government subsidies and promotions. The opening featured a display of founder Richard Liu’s original “three-foot counter,” evoking nostalgia and connecting with younger shoppers. The 50,000-square-meter mall, offering diverse products, is part of JD’s expansion, with new malls opening in other cities. The company plans to open 8-10 stores annually, focusing on high-tier and economically growing cities.

A 200,000-square-meter city park, the “Zhengzhou Integrated Transportation Hub Eastern Core Area Underground Space Comprehensive Utilization Project Existing Landscape Engineering,” is under construction in Zhengzhou, China, near a planned retail location. This 72.91-million-yuan project includes leisure, sports, and scenic areas, aiming to create a green corridor from the high-speed rail station. The adjacent retail space, set to open before 2026, will offer diverse commercial options.

MINISO Group (MNSO) successfully held its annual general meeting in Hong Kong on June 12, 2025, with shareholders approving all resolutions. This crucial event reaffirms MINISO’s commitment to strong corporate governance and shareholder engagement. The positive outcome boosts investor confidence in the company’s sustainable growth and its position in the global retail market.

A Chinese court ruled in favor of retail giant Pang Dong Lai, fining a Douyin user RMB 400,000 (USD $55,000) for defamation. The case involved negative videos about red underwear purchased at a Pang Dong Lai store. The court ordered a formal apology and compensation, highlighting the financial risks of unsubstantiated online claims.