Retail News
- China's No. 1 home appliance retailer reports soaring sales revenue
Date: 19-Apr-2007 Sources: (People's Daily)
China's largest home appliance retailer Gome reported a sales revenue of 24.7 billion yuan (3.2 billion U.S. dollars) in 2006, up 38 percent on the previous year, the company reported on Wednesday.
'Gome has maintained a strong momentum amid fierce competition, recording a net profit of 819 million yuan,' a company statement said.
Gome has established the largest retail network in the country, with chain stores in 160 cities at the end of last year.
The company said it planned to open 170 new stores in 2007 and will strive to raise its market share to more than 20 percent during the 2007-2011 period.
China's top 100 chain stores reported a sales revenue of 855.2 billion yuan (111 billion U.S. dollars) in 2006, up 25 per cent. Gome came out on top and was followed by Bailian Group, Suning Home Appliances, CR Vanguard and Dalian Dashang Group.
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