MALCOLM MOORE: Is there any reason why Gome is suffering while Suning prospers?
Category: Consumer
Gome Electrical Appliances Holdings said its January-September net profit fell by 39% though sales were starting to improve as the global economic downturn eased, the Wall Street Journal reported. The company said its net profits for the period ending September 30 were US$141.3 million, down from US$232.9 million a year earlier. Revenue fell 14% to […]
MALCOLM MOORE: The discrepancy between China’s rocketing car sales and its limp gasoline sales has developed into a classic conspiracy theory
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Tesco comes to China
Tesco, Britain’s biggest retailer by sales, will be in a JV opening under the Tesco name in shopping malls around China.
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Big stores battle it out
The contest between large Chinese retailers and their overseas competitors escalated Monday after South Korea’s biggest department store chain, Lotte Shopping, agreed to buy 72% of Hong Kong-based Times for $628 million, having out bid Beijing-based Wumart Stores. With the acquisition of 53 hypermarkets and 12 supermarkets, Lotte gained a strong foothold across the […]