DFI Retail's supermarket operations in S'pore back in the black

Moving forward, it sees better margins and growth from 7-Eleven convenience business

- Kang Wan Chern

After several years of losses, DFI Retail Group's supermarket operations in Singapore became profitable in 2024, owing in part to a strategy of shutting some Giant and Cold Storage stores in estates where the brands are no longer relevant, and reopening them in locations with greater sales potential.

Despite returning to the black, DFI expects its supermarket revenue in Singapore to remain stable at best amid heavy competition, and it sees better growth and margins from its 7-Eleven convenience business moving forward.

Singapore Exchange-listed DFI owns and runs the Giant and Cold Storage, as well as CS Fresh and Jason's Deli supermarket chains here. As at March, it has over 80 supermarkets across all four brands here, with the majority comprising Giant outlets, the group said.

Following the sale of its supermarkets in Malaysia and Indonesia in 2023 and 2024, DFI has been able to focus on refining its Singapore supermarket offerings and ensuring they cater to the distinct needs of customers.

It has done this by curating more products under its Giant and Meadows house brands, which are cheaper than comparable products by other brands, as well as closing outlets that no longer meet the demands of some estates, like its Giant stores in Toa Payoh and Bishan.