Suning’s 1st half revenue rises 22.5% 
2019-09-03
Suning.com said its first-half revenue was up 22.5 percent to 135.6 billion yuan (US$19.1 billion) although profit declined due to a one-off gain from a year ago.
It added 35 million registered members in the first half of 2019 to make a total of 442 million through new grocery store openings and its acquisition of Wanda department stores earlier this year.
Profit was down 64 percent to 2.14 billion after higher investment-related gains a year earlier.
Sales of home appliances, personal care and daily consumer goods through both Suning’s online and offline channels went up 67 percent in the first half and now contribute about 27 percent of its total revenue. The company is hoping to rely less on big-ticket items such as electronic appliances and bring in more grocery shoppers.
This Nanjing-headquartered retailer acquired an 80 percent stake in French supermarket giant Carrefour China in a 4.8 billion yuan deal in June. 
