Gome expects loss
By Cathy Ding |
July 25, 2012, Wednesday
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Print Edition
Print Edition
HOME appliance retailer Gome Electrical Appliances Holding Ltd said it expects a net loss in the first half of this year, citing a drop in sales and losses in its e-commerce business. Gome posted a profit of 67.4 million yuan (US$10.6 million) in the first quarter this year and 1.2 billion yuan in the first half of 2011, the company said in a filing to the Hong Kong stock exchange. Earlier this month, arch rival Suning Appliance Co also warned that profit could drop as much as 30 percent in the first half.
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