Retailers are scaling back or delaying expansion plans in China as investors express concern about over-expansion and demand falls among Chinese shoppers.
Grocer China Resources is to cut back its openings to 200 rather than 300, and fashion retailer Giordano International has shut 14 stores in China in the first quarter of this year. Sportswear retailer Anta Sports Products, which has 5,700 stores, will add 900 this year; last year it expanded by 950 stores. And luxury watchmaker Xinyu Hengdeli, which has 210 outlets, plans to have 300 by 2011 instead of 2010.
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