KEY STAT | Carrefour China owner Suning opens 871 new stores in Q3

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.