Related News
Suning stocks plunge on dire profit outlook
By Ding Yining |
July 16, 2012, Monday
|
Online Edition
Online Edition
SUNING Appliance Co, China's biggest home appliance retailer by market value, sank by the daily limit of 10 percent today after it said profit may drop as much as 30 percent in the first half of the year on lower sales.
The Nanjing-based retailer said in a filing to Shenzhen Stock Exchange over the weekend that profit in the first half will be around 1.73 billion yuan (US$271 million) against 2.47 billion yuan in the year-earlier period.
The company said that sales in its offline stores was lower than expected in the first six months due to unfavorable external economic situations and the booming of new retail channels such as online shopping sites hurting its business.
Suning has been adjusting its brick-and-mortar stores and has been more cautious in opening new outlets in the past few months.
The retailer estimated that sales at its online unit Yigou in the second quarter rose 75 percent from three months ago to 3.36 billion yuan.
The Nanjing-based retailer said in a filing to Shenzhen Stock Exchange over the weekend that profit in the first half will be around 1.73 billion yuan (US$271 million) against 2.47 billion yuan in the year-earlier period.
The company said that sales in its offline stores was lower than expected in the first six months due to unfavorable external economic situations and the booming of new retail channels such as online shopping sites hurting its business.
Suning has been adjusting its brick-and-mortar stores and has been more cautious in opening new outlets in the past few months.
The retailer estimated that sales at its online unit Yigou in the second quarter rose 75 percent from three months ago to 3.36 billion yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
