Mainland department store operator Golden Eagle Retail Group said yesterday that it was in no rush to develop an e-commerce platform despite reporting a 23.2 per cent fall in first-half net profit to 483.8 million yuan (HK$609.5 million).
"We want to slowly and carefully develop the preparations and foundation plan for e-commerce," chief financial officer Patricia Tai said. "We hope the e-commerce plan will not be a loss-making business because we see a lot of e-commerce [initiatives] are still loss-making … After the foundation work is done, then we will roll it out."
Same-store sales growth declined 6.7 percent, Golden Eagle said on Monday night. Turnover was 7.94 billion yuan, down 7.9 per cent from a year earlier.
To read the full article, please click here.
Aug 14, 20133974
May 16, 20142444
Jun 20, 20142537
Apr 21, 20142402
SmithStreet provides you source for today’s leading business ideas. Our content explores the topics critical to China market today.