Retail in Asia

In Shops

China’s Suning to open over 400 stores this year

Suning Appliances, one of the largest home appliance retailers in China, planned to open at least 400 stores this year, which was a similar figure as that of last year. Meanwhile, it will continue to focus on its online business – Suning Yigou – and aimed at CNY30 billion (USD4.76b) of sales, four times higher than the number in 2011, which stood at CNY5.9b.

Suning published its performance report on Wednesday, showing that sales increased by 24.35 percent to CNY93.89b, net profit was up by 20 percent to CNY4.82b and earnings per share were CNY0.69.

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(Source: CCFA)