物美、永辉、步步高等头部商超纷纷开启"爆改"转型，以"胖东来模式"为样本，进行调改。 据新华社消息，全国零售业创新发展大会9日至10日在北京举行。 商务部副部长盛秋平在会上表示，当前零售业在网点布局、供需适配、线上线下平衡等方面还需进一步 加强，并特别提到要学习推广胖东来等企业好经验好做法，加快转型提升。 这已经不是商务部第一次点赞"胖东来"。 在2025年1月24日，国新办就保障春节市场供应、促进节日消费，举办的新闻发布会上。商务部副部长 盛秋平介绍，去年涌现出了一批商业设施改造、质量服务提升的典型案例，其中就提到河南胖东来等。 1997年10月，胖东来第一家分店在许昌开业，由此进入超市业态；1999年5月，胖东来首次把综合量贩 引入许昌；2002年1月，胖东来生活广场店开业，成为旗下首家综合旗舰店……目前，胖东来共有13家 线下实体店，河南许昌市有11家，新乡有两家，分别是大胖和二胖店，加上即将开业的"三胖"，以及郑 州首店，胖东来实体门店将达15家。 凭借货真价实、做优服务、开诚布公等一系列"独门秘诀"，这个原本扎根在河南许昌、新乡的超市，多 次引爆消费，由此被誉为零售业传奇，被网友称为"不挂牌的6A级 ...

Core Insights - The article highlights the contrasting financial health of the retail company Pang Dong Lai, which holds 4.1 billion cash with no debt, against the backdrop of struggling competitors facing significant losses and closures [1][3][4]. Financial Performance - Pang Dong Lai's sales exceeded 18.4 billion in 2025, showing a growth from 16.9 billion in 2024, with a projected net profit nearing 1 billion, maintaining a profit margin of around 5% [7]. - In contrast, competitors like Yonghui Supermarket reported a cumulative loss of over 8 billion in three years, with a net loss of 241 million in the first half of 2025 [6][14]. Business Strategy - Pang Dong Lai's strategy focuses on quality and efficiency rather than aggressive expansion, with a stable fresh produce loss rate of 0.8%, significantly lower than the industry average of 3.5% [7][8]. - The company maintains a high customer repurchase rate of 80%, double the industry average, indicating strong customer loyalty [7]. Management Practices - The management practices at Pang Dong Lai emphasize rigorous standards across all operations, from product sourcing to employee treatment, with 42% of revenue allocated to employee compensation [11][12]. - The company has a comprehensive internal management manual that covers various operational aspects, ensuring consistency and quality in service [11]. Market Position - Despite being perceived as less ambitious due to its limited expansion (only 13 stores), Pang Dong Lai's approach has proven to be effective, generating over 10 billion in revenue with a strong cash position [12][15]. - The article suggests that the focus on quality over quantity is a sustainable path for long-term success in the retail industry, especially as market conditions change [20][23].