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Suning to open 220 stores in 2010

By Ding Qingfen and Li Weitao (chinadaily.com.cn)
Updated: 2009-03-06 18:32

China's second-largest consumer electronics retailer Suning plans to open 220 stores in 2010, as part of its efforts to dethrone its larger rival Gome, Chairman Zhang Jindong told China Daily on Friday on the sidelines of the Chinese People's Political Consultative Conference (CPPCC).

Related readings:  Suning's net profit up 48% in 2008  Consumer: Suning looks to dethrone Gome  Suning Appliance to open at least 200 stores in 2009

That could bring the total number of Suning stores to about 1,300 by 2010. Suning currently has about 850 stores across the country and plans to open 200 stores this year.

Gome has said it plans to close some stores this year, bringing their number to roughly 1,300. Analysts said a scandal involving Gome founder Huang Guangyu has overshadowed the company's expansion plans. Huang has been detained and is under investigation for his alleged role in a stock manipulation scandal.

Cash-strapped Gome has been seeking to sell stakes to strategic investors in recent months.