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SUPERMARKETS EXPAND

The real estate development in various areas has prompted the construction of new supermarkets. Since 2010, the Group held King's Supermarket building Chitré Rey, Rey Centennial Park Supermarket, Supermarket King Plaza Versailles, and a hub in Coquito in David.

The overall expansion project involving investment of approximately $ 20 million, said executives of the company. Rey-Group consists of the supermarket chain Romero, El Rey and Mr. Price, recently opened a new branch in Barrio Bolivar Romero, in David, Chiriqui, with an investment of $ 2 million.

For Super Xtra chains now are focused on doing projects in Arraiján and La Chorrera. While supermarkets The Machetazo segmented their projects on the east side of the country, opening a store in Metromall.

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GROUP KING INVEST $ 2 MILLION IN NEW KING GROUP OPENS BRANCH

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With an investment of over $ 2 million, the Group Rey from Thursday 3 December, opens a new branch of the supermarket chain Romero, in the Bolivar area City of David in the province of Chiriqui.

This is the branch number 11 of the supermarket chain Romero and King group number 39, which is also made by supermarkets King and Mr. Price. The new branch will generate 68 new jobs. "This marks the beginning of the King Group's expansion in the province," said Roberto Maduro, manager of marketing and corporate affairs of this company.

investments will continue the expansion and renovation of other branches of this chain, located in Doleguita, and Concepcion Volcano-Park. Psychoyos Nicholas, president of Grupo Rey, announced that investments in expansion in the province of Chiriqui reach 20 million dollars.

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The Chiriqui, especially residents of the District of David, have a new supermarket. It is a branch of Romero, Rey Group, located Bolivar in the district.

Roberto Maduro, manager of marketing and corporate affairs, said the new facility, which has thousand 147 square meters, represents an investment of two million dollars.

The executive also said that this expansion will create 55 new jobs. The new supermarket will offer its services 24 hours a day and provide their services directly to 20 developments, including Ivu Spring, Upper River, Los Pinos Altos del Morazán. This is the eleventh establishment of the group chain Romero and thirty-nine from the King.

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SUPER KING LOW CONSUMPTION CONTINUES TO GROW IN SUPERMARKETS

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One of the most dynamic sectors of the Panamanian economy is retail. The intense competition between supermarket chains offer a wide variety of services, promotions and products that benefit consumers accordingly. One is the King Group. Roberto Maduro, manager of marketing and corporate affairs of the group, spoke with The Star to talk about projects they are developing. AGGRESSIVE EXPANSION


Four new stores are already in motion. The first to open will be King Barrio Bolivar in Chiriqui, one in Chitre, and a third project, the Centennial Park at the entrance to the Centennial Bridge. This will be the largest store group, with an area of \u200b\u200b6 thousand square meters and is a joint project with two large, Doit Center and Panafoto.

The final list is king in Versailles, to be located at the entrance to Radio City Southern Corridor. Will also be a new distribution center in David that include a storage facility and a meatpacking plant. Among the four supermarkets and distribution center is an investment of more than $ 15 million through 2011. THREE FACES


supermarkets in the Group Three King. The largest chain, El Rey, focuses on providing fresh strength, hence the slogan "Fresh .. always fresh. " The most recent acquisition, the chain Chiriqui Romero, has brought his own wealth to the group. "Something very special is the relationship Romero tradition and service in the province," said Maduro. Meanwhile

Mr. Price, who was born on February 27, 2003, direct participation of lower density markets in competition with grocery stores. "The client of Mr. Price goes to the super 5 times a week on average. Sometimes grocery stores do not have the best reputation, so Mr. Price emphasizes confidence in the quality of their service, "said Maduro.

"come many new things, we just launched the promotion of knives "Tas Kicking" and we are pioneering loyalty program Point Gold with new promotions, too, "said the manager. OWN BRANDS


Following a European trend, the chain offers at 800 King brand products ranging from meat, beans cleaning products, salt, among other products. "This approach benefits all is an alternative which translates into lower prices for consumers and profits for the supermarket," said the manager.

chain currently employs 4,000 employees and is listed on the Stock Exchange of Panama shares of $ 19. The group has three focus areas in which its social, health, education and recycling. Collaborates with Fundacáncer, Ancon and the future Museum of Biodiversity Gehry. The particular situation of having a competing chain led by president of the republic is not a concern for the King. "There is nothing that makes you be more efficient than having a competitor in front," said Maduro.

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Although later than other countries, Panama is already feeling the negative effects of financial and economic storm sweeping global markets, and the proof is that in June 2009, the consumption of Panamanians in major supermarket chains in the country grew only 10.5%, down growth of 16.9% in the same period in 2008.

A Market Intelligence study on the evolution of consumption in Panama, called the Basket and prepared for signature Capitalpor Dichter & Neira, indicates that the sharp decline of 6.4% in sales of supermarkets is the result of slowdown experienced by the Panamanian economy.

In fact, April has been the best month so far this year, reflecting a sales increase of 21.2%, 8 percentage points higher than the 13.2% growth reported in the same time last year . But the trend since then has been downward, as sales in May grew 17.7% and 10.5% in June.

The Basket Dichter & Neira, composed of all sales made by the major supermarket chains in the country, indicates that some high-demand items showing signs of slowing.

is the case of telephone (11.1%), automotive care products (9.3%), pharmacy (9.2%), food and care for the baby (8.6%), care pets (8.1), non-alcoholic beverages (5.7%), spirits and cigarettes (3.7%), hardware (1.7%) and processed foods (3.0%), and the line of greatest concern , accounting for more than a third of sales of major supermarket chains in Panama.

Meanwhile, the items that contributed most to sales growth were processed cheeses, meats and sausages in bulk, poultry and industrial bakery, indicating that consumers are prioritizing the purchase of commodities (see figure: Contribution to growth category.)

Given this reality, Leopoldo Neira, chief executive of Dichter & Neira, said there is still no clear sign of recession in the level of consumption, but acknowledged that it is preferable to pay attention to this phenomenon, indicating that some items are being hard hit by the global economic crisis.

explains that consumption has been increasing relative to last year, but not with the same strength. "What we've begun to see is how economic growth has begun to weaken, which implies a slight slowdown in consumer spending in supermarkets Panama, which is a great barometer of the national economy," said Neira.

The monthly index of economic activity in 2009 shows growth figures close to 3.5%, while last year the average was 9.0% and 10.5% in 2007. Supermarkets are preparing



Major supermarket chains the country have begun to prepare to face the slowdown in consumption levels of Panamanians. The manager of Marketing and Corporate Affairs Group Rey, Roberto Maduro, recently acknowledged that the consumer would suffer a reduction in growth rate, so that the supermarket chain already has a plan to combat homelessness, which is to provide the best products and services at more competitive prices and provide customers the best value for money.

For his part, Mario Martinelli, chairman of the Super 99 supermarket chain said one of the strategies they have implemented, is to lower the prices to be more competitive and to save customers the products they consume.

Pedro Acosta, president of the Consumers Union of the Republic of Panama (Uncurepa), states that do not receive a positive trend in consumption in the short term because the production, import and marketing of food and other staples is subject to the will of intermediaries and price agreements are recorded at various levels of the market, as consumer prices have not fallen nor will they.

To boost consumer spending in Panama, said Acosta urged the establishment of true food sovereignty policies, produced what the country consumes and what the people need, because otherwise "we will have a negative consumption trends in the coming months."

Market Intelligence Study, prepared by Dichter & Neira, organized trade shows that are preparing their best weapons to try to revive the trends in consumption of Panamanians, since the months to come are usually the lowest Sales during the year. Conclusions
market

• There will be less brand loyalty and greater inclination to the price. This means that mid-priced brands and under will be most favored.
• The consumer before leaving a mark, find sizes smaller because the smaller sizes to better accommodate the capacity to deliver.
• The war for the trade preferences were more pronounced in all trade channels, but will be in stores which offer better prices to consumers.
Source: Dichter & Neira

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KING GROUP SALES INCREASE 18.7% CORPORATE RESPONSIBILITY

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sales King Holdings Corp. and subsidiaries amounted to 220.8 million dollars during the first half of fiscal 2009, ended March 31.

This amount represents an increase of 18.7% ($ 34.8 million) compared with $ 186 million in sales recorded during the same period of 2008, as a report of the company.

group's financial statements indicate that, however, the gross profit margin decreased to 21.4% in the first half of 2009, compared with 23% for the same period last year. Therefore, gross profit increased to $ 47.3 million for the first half of 2009 compared to $ 42.9 million for the same period last year.

The results obtained show a net profit of $ 8.4 million for the first half of 2009 compared to $ 6.1 million during the same period last year, with a higher income tax ($ 4.3 million compared to $ 3.4 million for the same period last year.)

Marketing manager and Corporate Affairs, Roberto Maduro, said the group hopes that the investment policy that has drawn President Ricardo Martinelli revitalize the economy, to overcome any negative effect of the current international financial crisis.

Due to this reason, the group King sees further growth of its operations, opening new facilities both Rey supermarket in the Azuero region and at the entrance of the Centennial Bridge in the capital city. David and are advanced in the works to open a supermarket in Barrio Bolivar Romero. Also expected to open another Mr. Price.

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QUALIFY

Supermarkets were the most prominent in opinions. C & W was the best known. 49.1% of a thousand Panamanians interviewed by Dichter & Neira noted ignore domestic firms socially responsible. However, 12.6% said Cable & Wireless, followed by 11.3% who mentioned the Machetazo and 5.9% in the Super 99.

Other companies mentioned by the Panamanians were Super XTRA, TVN, Ricardo Pérez, SA and Telefonica Movistar. Of the companies mentioned are three of the supermarket sector, which reaffirms, according to the study, the Panamanians may be related to social responsibility issues such as basic needs basket.

To which types of companies were complying with their responsibilities in society, it was found that banks, finance companies, and computer technology companies and food companies were the best.
The survey results indicate that the consumer Panama and the Central has a very basic knowledge of what it means to be a socially responsible company.

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ANTONIO REAL ESTATE IN NEW PACKAGING

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Don Antonio Real Estate, SA, company that operates the King Group, placed the entire first two series of mortgage bonds amounting to $ 10.4 million at rates of 5% to 3 years and 6% to 7 years, through the Panama Stock Exchange.
This placement, which was oversubscribed by investors Panamanians, constitutes 20% of total emission of 50 million dollars.

This operation was done in order to ensure a more stable source of funds at a cost substantially lower than what local banks are offering to finance the current expansion of the King Group.

Currently, Grupo Rey built two new stores: one in Barrio Bolivar Romero David and King Supermarket in the shopping center Lake Village Center in Chitre.
will soon be starting construction a new supermarket on the way Rey Centenario Bridge and the new Private Versailles on the way to Tocumen airport.

the end of first quarter, the Group's total assets increased a net 1.3 million dollars over the previous quarter, reported 165.8 million dollars.
This increase is mainly due to net increase in property, furniture, equipment and improvements (net of depreciation) of $ 1.7 million over the previous quarter to $ 78.5 million at March 31, 2009.

other hand, intangible assets were reduced by $ 224,000 (resulting from the depreciation of the quarter) to $ 2.9 million at March 31, 2009, while properties investment (net) showed a reduction of $ 144,000 below the previous quarter to $ 1.4 million at March 31, 2009.

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MARKET FOR MEAT police had supermarket

New on the market. Continuing its commitment to always offer the freshest produce, Grupo Rey introduced the new packaging thermoforming vacuum meat for their chain Mr. Price.

The package, developed by Meat King, is composed of a thermoformed base film and a superior film that seals the base. The new packages are now available in 10 supermarkets Mr. Price and have important benefits for their customers as a longer life, more freshness and control microbial growth more hygienic.

also display the product inside the packaging, more transparency, effective barrier to odor and flavor, more environmental protection and adequate size and cuts.

All of these benefits, sources with the company, the customer will find the same great price as always.

With the new vacuum thermoformed packaging, Grupo Rey also improves productivity by using first-generation equipment to pack their meat.

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SUPERMARKET BAGS OFFER

As an act of justice for all members of the Armed Forces, President Martin Torrijos considered the opening of the supermarket "PACO" National Police in Ancon, with which help improve the quality of life of police units and their families.
The new work has a modern infrastructure that will allow members of the National Police to purchase products from the basket of excellent quality at low prices.

Torrijos, to chair the opening ceremony of the local, said the government's initiative to restore the supermarket that was deleted in the past, many hours of work compensated police units who give up their families to provide security to all citizens.

"This Government has returned to provide the opportunity for insurance private and other awards that a company makes grateful for the vigilance, labor, delivery and the courage to give you security and peace for all Panamanians, "said Torrijos.
added that this benefit is the conviction that democratic administration also succeeded in getting a member of the National Police lead the institution, in recognition of the ability of the police board, its officers, the qualities they have and the leadership that count. "I am convinced that not only was a historical claim, but a right step to give you the opportunity to complete a career and a life of dedication to the country, society and all Panamanians, "he added.

To make purchases in the supermarket the National Police units, SPI, Naval and Borders, will have a membership card. In the coming days is expected the opening of the new clinic of the National Police, which will expand the medical services currently exist in the institution.

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local supermarkets seem determined to improve consumer acceptance and increase market share through adoption of measures aimed at environmental protection, such as using biodegradable plastic bags.

The new environmentally friendly bags come from renewable resources from agriculture and overall help reduce greenhouse gas emissions, energy consumption and pollution. These bags have been introduced in several supermarket chains King, Romero, Mr. Price, The Machetazo and Riba Smith. New initiatives

In recent years the issue of recycling in Panama has taken more and more important, to the point that some companies have introduced policies of conservation in their business schemes, which also to gain greater acceptance among consumers has resulted in significant savings in operating costs and therefore higher profitability. According to Indira

Doyen, corporate communications manager Rey Group, has already started a movement of conservation and recycling in the food sales market that began with the sale and promotion of reusable bags in their outlets. "The idea is to reduce consumption of plastic bags and customers to use these reusable bags for shopping at grocery stores and reduce environmental pollution," said Doyen.
The cost for each reusable bag to the consumer is $ 1.50 and it has an average lifespan of two years.

Another important step in this direction is the introduction of biodegradable bags, which can have an impact on environmental protection, as the plastic takes 500 years to disappear, while new do in just two years. With these measures, as Doyen, have been able to save 8,121 trees, save 370 barrels of oil, 1,278 meters cubic reduce landfill, save 2.1 million kilowatt hours, saving 3.6 million gallons of water and 118 decrease metric tons of carbon dioxide emissions.

Meanwhile, Ramon Smith, major shareholders of Riba Smith Smith, said the company is also offering customers reusable bags, which have a cost of $ 1.95, and biodegradable plastic bags.

"This is the new trend. Use products that do not affect the environment, but not all customers are accustomed, and are being offered at all locations, "said Smith, adding that eventually the customer will stop using plastic bags.

For his part, Mario Martinelli, chairman of the Super 99 supermarket chain said it had not yet started using bags biodegradable plastic or reusable bags. He explained that this is not due to lack of will, but "no one yet has offered the manufacture of these bags, because otherwise they would take it into account." Recycling is profitable

Meanwhile, Valerio De Sanctis, president of the Union of Industrialists of Panama (SIP), said that what you're seeing is that the Panamanian business community is becoming aware of the importance of conserving the environment . "In the SIP are not oblivious to the changes to be made concerning the improvement of the environment, and these initiatives are part of the new vision of industry and business in Panama, "he said.

"Any initiative is welcome and you should start teaching people to recycle from the houses, each type of waste deposited in their respective place," said De Sanctis.
businessman Alexei Castillo, who is dedicated to recycling at home, said to make the collection of any product that can be reused is extremely important to protect the environment, and step can generate revenue for companies that adopt such policies .

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ENVIRONMENTAL QUARTERLY SALES RISE KING 14.4% INCREASE NUMBER OF SUPERMARKET

King Holdings Corp. reported a sales increase of 14.4% for the first quarter of fiscal 2008 - 2009, ended December 31, 2008. Net sales for the period were U.S. $ 109.8 million, $ 13.8 million more when compared with the same last year when he won $ 96 million. According to the group, this increase, coupled with gross margin resulted in a slight increase in its gain to 22.9% when compared with the 22.8% generated in the same period previous fiscal. Your gross profit was $ 25.1 million in the first quarter, compared with $ 21.9 million for the same period the previous year.

The group said in its report to the National Securities Commission, which closely follows the international economic phenomena and that it expects the impact of the global financial situation affect moderately the local market. "Panama shows good economic indicators supported by tourism, telecommunications, and transportation" and therefore "we expect more growth," the report said. Source

La Prensa, March 11, 2009.

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POPULAR

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The steady increase in prices of basic food basket because of global inflationary spiral and local speculation has led to the birth of a popular supermarket, which offer consumers buy alternative commodities at low prices. In fact, the annual cost of family food basket was located in $ 253.04 monthly in 2008, up 8.5% compared with $ 233 monthly to 2007 figures, according to the Ministry of Economy and Finance .

But this rise in prices, not just consumers lose. The National Agricultural Organization (Evening Primrose) believes that producers are victims of intermediaries such as supermarkets and grocery stores, so they decided to create their own supermarkets. Primrose
started first with free markets and already have 15 supermarkets nationwide, of which 11 are in Chiriqui, Panama three and one in Veraguas.

"We offer more than fifty foodstuffs of the basic family and supplement with other staples such as soap, toothpaste and toilet paper, which are manufactured in Panama," said Enrique Athanasiadis, president of Evening Primrose.
"People are saving 25% of the prices of basic goods in excess of $ 250 per month, which means a saving of $ 63.00," said farm leader.

A primrose path traveled like Rep. Sergio Gálvez, which became popular with its shows in the village of Chorrillo and three years with a local Calidonia fixed, which though small is well stocked. Unlike evening primrose and Galvez MP, National Council of Organized Workers (CONATO) has failed to create a supermarket spite of years of trying, but now seems to be about to realize this dream.

Norma Cano, leader of conative states that "the aspiration is to become a fact, a supermarket popular with all the basic products at low costs and the agro from Panama, because that struggle is useless if they will import products abroad as do the supermarkets millionaires. "

Pedro Acosta, president of the National Union Consumers and Users of the Republic of Panama (Uncurepa), welcomed the popular supermarkets because, in his view, the absence of a state policy that guarantees a basic and affordable protection of the free market to the detriment of consumers is the cause of rising food prices. Comment

now consumers must do their part and support this initiative and ensure that it is maintained over time and are not temporary. Gonzalo Cambefort, director of the Institute of Agricultural Marketing (IMA) said that we need more supermarkets and Evening Primrose to make public to buy and offer competition to the big supermarkets and shops of Asia. Roberto A.

Maduro, Marketing Manager Commercial and Corporate Affairs Group vice King, says that supermarkets are the last link in the supply chain, but are not responsible for the increase in prices, but some middlemen who buy from producers and then sells to supermarkets.

King explains that supermarkets sell top quality agricultural products, but this involves costs of logistics, transportation, fuel, wages and electricity, which are not necessarily part of the operating costs of other companies involved in food marketing.

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THE KING AND THE SUPER 99

Despite the global economic crisis, the Super 99 and Rey Group, two leading supermarket chains in Panama, do not stop their expansion plans. Both giants finishing touches to start the construction of nine additional branches, which must be completed in 2010 and expand the supply of food in different places of the capital city and the countryside. While the Super 99 plans to build four new branches within the next two years, the King Group prepares to build five branches, mostly in the capital.

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But the Super 99 are the only ones who will experience a process of business expansion, and its main competitor, the Grupo Rey not be left behind, because by 2010 hopes to build five new branches further. Projections of this company include the construction of public Rey Supermarket Balboa, which will be located in the old YMCA building, and King Versailles, to be built in the new commercial center of the Private Versailles in the area of \u200b\u200bJuan Diaz.

Balboa King will feature over 4,000 square meters (m2) of construction and address the needs of residents of Ancon, Balboa and the Old Town, in addition to the Panamanians who are traveling within the country through the Bridge of the Americas. Versailles King will be the first supermarket of the chain in the area of \u200b\u200bJuan Diaz, benefiting communities and Ciudad Radial, Costa Azul, Don Bosco and La Riviera, among others.

King
These two new supermarkets in addition to King Chitre, Rey Centennial Park and Barrio Bolivar Romero supermarket already under construction, ie in total there are 5 new stores that the company expects to open in 2010. So far the King Group consists of 37 supermarkets, 18 Supermercados Rey, ten and nine Romero Mr. Price.

is estimated that the construction of a new market is influenced by many factors such as length and location of the project, but the average cost for land purchase and construction is about $ 2.5 million. To this we must add all the work and equipment required to mount the store (refrigerators, boxes, shelves, air conditioners, etc..), Estimated at approximately $ 5 million, making a total of $ 7.5 million per facility. With these investments, the supermarket king expects to generate about 600 direct jobs, out of all the indirect jobs are generated in different areas by the construction of these facilities.

Conforming
In recent years, Supermercados Riba Smith made great strides, going from two to four supermarkets, which were established in strategic sites in the capital and the Mall Multiplaza Pacific and East Coast. Carlos Ramon Smith, vice president of the supermarket chain, said they are quiet for now, but said it must define its partners which will be the steps in this chain for years to come.

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