Chinese retailer Suning says it has swung to a first half loss.
The company reported a first half net loss of 749 million yuan ($121.4 million) compared with a net profit of 734 million yuan in the same period in 2013.
Suning opened 62 new stores but closed 64 during the first six months, taking its store count to 1583 in mainland China, 27 in Hong Kong and 13 in Japan.
The retailer says its online business is thriving, having seen its revenue rise 51 per cent to 8.3 billion yuan.
It is strengthening its logistics and warehouse infrastructure to increase the competitiveness of its online business against rivals like JD.com and Alibaba.