E-commerce platform Suning.com boosts sales

Chinese O2O retailer Suning says sales from its online platforms and physical stores rose by 24.27 percent in the third quarter, reaching RMB 171.43 billion (US$24.4 billion).

The company closed the quarter with 470 million registered members and the number of active monthly users rose by 48 percent. Suning now hosts 8407 self-operated and franchised stores.

Net income attributed to shareholders was RMB 11.9 billion ($1.7 billion)

The company expects to receive a significant boost from the acquisition of an 80-per-cent share in the Carrefour China operations in late September, adding to the previously acquired Wanda department store network. It describes the move as part of a mission to create a multi-platform retail business for China, spanning third-party marketplaces, its own physical stores and its own online offer.

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“The introduction of Carrefour’s supply-chain capabilities will effectively leverage the advantages of large-scale procurement, and help establish an efficient warehouse allocation system to promote the rapid development of Suning’s FMCG categories,” the company said in a statement.

In the prior three quarters, Suning increased investment in logistics, technology and in building out other core capacities to lay a solid foundation for growth over the next decade.

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