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 30 billion yuan of sales, 4 times higher than the number in 2011, which stood at 5.9 billion yuan.
Suning published its performance report on Wednesday, showing that sales increased by 24.35% to 93.89 billion yuan, net profit was up by 20% to 4.82 billion yuan and earnings per share were 0.69 yuan.
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