[:en]Gome makes gains [:zh]国美创收

[:en]Chinese appliance retailer Gome’s net profit is up 253 per cent, thanks to management focus, an omnichannel strategy and supply chain improvements.

After losing 597 million yuan in 2012, Gome saw its net profit rise 268 million yuan ($43 million) during the first three months of the year compared to 76 million yuan during the same period a year earlier.

Same store sales, sales revenue per square meter and other indicators all achieved year-on-year increases, including an increase in same store sales of 8.1 per cent year-on-year, it said.

“The remarkable performance achieved in the first quarter of 2014 has strengthened the group’s confidence in fully implementing its ‘O2M Omni-Channel Retailer’ strategy,” said Wang Junzhou, CEO of Gome.

Part of its turnaround strategy, it shuttered its stores in Hong Kong to focus on mainland China.

Gome aims to become China’s largest omni-channel retailer, beating its closest rival Suning.









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