Breadtalk (technical)

Breadtalk: Technical Alert. Counter makes a new all time high at $0.75. Recall Grp CEO note co. is now in 46 Chinese cities, with plans to go into 3 to 5 more cities every yr, tapping into the opportunities opened up by the urbanization of second-tier cites. Retail sales of baked goods in China are expected to reach US$1.8b by 2015, drawing many Chinese and foreign co’s for a slice of the growing pie. Retail sales of bread, cakes, pastries and other baked products in China were US$1.2b in 2010, double the amount in 2000. This upward trend appears to be set to continue, given the increasing number of middle-class consumers and changing lifestyle habits influenced by Western culture. Grp add that in China, it has ard 300 retail stores (and) in Shanghai, it is close to 40 outlets. From the first outlet grp opened until now, all the shops continue to register five to eight% growth in sales. Sales are not diluted because of the increase in outlet numbers. Eventually grp plans to open 200 outlets in Shanghai.