The Digital Source For China's Tech Innovation Since 2000

Search
Close

Gome's Electronics Retail Business Surges In China

May 31, 2011
Business | Gadgets & Electronics

Chinese electronics and home appliances retailer Gome has published its unaudited results for the first quarter of 2011, and it is also the last quarterly report before Chen Xiao, former chairman of Gome, departed the company.

According to the report, Gome's sales in the first quarter of 2011 reached CNY13.677 billion, a year-on-year increase of 16.08%; its operating profit increased from CNY532 million to CNY685 million, a year-on-year increase of 28.76%; and its net profit attributable to shareholders increased from CNY333 million to CNY552 million, a significant increase of 65.77%.

During the first three months of 2011, Gome opened 37 new stores and closed seven stores. By March 31, 2011, the retailer had developed 856 stores in total.

Zhang Dazhong, chairman of Gome, said that they are very satisfied with the company's performance in the first quarter of 2011. The group will continue to implement its strategic plan to extend its store coverage. Meanwhile, it will update its existing stores to further improve operating capacity and market share so as to maintain its leading position in the Chinese home appliances retail chain sector.

Gome said the year 2011 is the second year for its new five-year development plan and the group will strive to expand its network; optimize supply chain systems; establish nationwide and regional distribution centers; update stores; improve consumer experiences; and enhance relationships with suppliers and banks. In addition, it will actively develop e-commerce businesses.

Tags: Chen Xiao | e-commerce | Gome | retail | supply chain

Other Related News:

White House spurns Intel plan to boost chip production in China Business Standard News

November 14, 2021

Didi Announces Delisting from the U.S. Five Major Issues Didi Travel China Concept Stocks

December 5, 2021

Best Buy To Open Its Second Store In Shanghai

October 23, 2007

Apple CEO Tim Cook reportedly signed a secret $275 billion deal with China in 2016 to skirt challenges with government regulators

December 8, 2021

Chinese Electronics Retailers Join Forces For E-commerce Push

July 16, 2016

US 2nd Only to Hong Kong as World’s Cheapest Place for Electronics

November 23, 2021

Chinese social media and e-commerce app Xiaohongshu has laid off 9% of its staff amid crackdowns; Xiaohongshu raised… News

April 22, 2022

Xiaomi Finds Replacement For Hugo Barra

February 22, 2017

Chineses – FingerMotion Inc. (NASDAQ: FNGR) Unveils Mobile Device Protection Product in China

July 16, 2022
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....