In the past quarter, China’s retail giant Suning.com (002024.SZ) opened 871 new stores in the country, as the company keeps on venturing into China’s lower-tier cities, according to a press release published on Wednesday.
A series of promotional activities in August have helped boost the retailer’s Q3 sales volume by 108% year-on-year, while total sales volume from January to September is 6.5% higher than in the same period of 2019.
Suning.com, which acquired an 80% stake in Carrefour China in September 2019, expects to earn a quarterly net profit of RMB 670 million to RMB 920 million (USD 99.7 million to USD 136.9 million).
Read this: Carrefour China owner Suning reports 17% drop in 2019 net profits
This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.
