Gome says profit in first 9 months up 70%

By Ding Yining | October 21, 2014, Tuesday |

Online Edition

GOME said profit in the first nine months this year rose 70 percent with its multi-channel strategy beginning to revive sales and performance.

The Hong Kong-listed home appliance retailer's comparable store sales in the first three quarters are expected to rise about 6 percent, according to an initial earnings report, Gome said in a statement.

Transaction size at its e-commerce unit is estimated to more than double from a year ago in the third quarter, after the company put more focus on online transaction due to the shift of consumer habits.

Gome president Wang Junzhou said in a stock exchange filing that the company will continue to drive growth through multiple channels and will mainly rely on sales growth from lower tier cities and e-commerce units.

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Gome says profit in first 9 months up 70%

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