(MENAFN) Gome, China's leading home appliance retailer said it registered a 43.5 percent surge in its 2014 net profit as it stepped up its e-commerce strategy to compete with rivals, Xinhua reported.
Gome's net income increased to USD206 million last year, the company said in its annual report released. Meanwhile, sales surged 7 percent compared to a year earlier to USD9.8 billion.
Online sales for the whole of 2014 rose 84.4 percent, while sales in the fourth quarter were up 117 percent. Gome also opened 154 new stores in shopping malls last year in a new strategy to boost sales.
With an increased number of people buying online in China, traditional home appliance retailers like Gome and Suning face tremendous pressure, which has prompted them to develop an e-commerce strategy.
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