Store expansion to fuel MyNews growth

Changing expectations: A myNEWS.com outlet at Kota Damansara. The firm says the convenience retail sector will continue to evolve rapidly within an increasingly competitive environment.

CONVENIENCE retail chain MyNews Holdings Bhd, which operates the CU convenience stores in Malaysia, says it expects its financial performance to improve in the second half of the year as headwinds ease and operational initiatives start delivering results.

Group chief executive officer Dang Tai Wen says the company’s earnings and margins were “relatively stable” in the February-to-April quarter, mainly due to two factors – the Ramadan period, which typically sees lower footfall and softer sales, and a more cautious consumer spending environment.