2013, the doomsday for entity shops? (3)

Shutting down shop has become a trend

In fact, Gome's shutting down shops not only happens in Hong Kong.

Gome 2012 third quarter earnings report shows that the company's first three quarters totaled a loss of about 687 million yuan, and has closed 102 stores. Gome President Wang Junzhou said Gome store expansion has moved from first-tier cities to secondary and third-tier markets.

Interestingly, Gome Group's rival Suning plans to open 50 stores in Hong Kong in three years. Suning has 29 stores in Hong Kong at present. Though facing the same high rent costs and fierce competition from local rivals, Suning shows no sign of struggling.

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