HK-listed Shirble Department Store at 3-month high on tie-up with Alibaba's Hema

Shirble Department Store Holdings China

04/09/2019 04:27

** Shares of Shirble Department Store Holdings (China) Ltd
 0312.HK  jump as much as 15.1% to HK$1.25, their highest since
May 31 
    ** Stock gains after co reports about its cooperation with
Alibaba Group's  BABA.N  Hema, in an attempt to bring an online
shopping experience to bricks-and-mortar stores 
    ** Stock on track for a second straight session of gain
    ** The Guangdong-based department store operator says it
will strengthen strategic alliance with Hema, particularly for
those newly opened supermarkets and department stores in the
Southern China region  https://bit.ly/2lvSfq2
    ** Shirble says it will cooperate with Hema on aspects
including operational model of store, store layout, software
systems, hardware design and development, procurement of goods
and data management
    ** The new retail format will be launched by Q4 
    ** As of Tuesday's close, Shirble stock up 11.6% this year
    ** Shirble has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 12.7 percentage points in the
past one month
    ** The Hong Kong Hang Seng sub-index, tracking consumer
goods companies  .HSCICG , gains 1.04%
    ** The Hang Seng China enterprises index  .HSCE  climbs
1.5%, and the benchmark index  .HSI  rises 1.6%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)