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Gome's Short-Circuited Growth
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Gome's share price fell 21% on March 27, 2012. The company is facing strong competition from online sellers. Its profits declined by 6% in 2011. China is seeing an upsurge for online retailers such as 360Buy.com and Taobao. Gome's internal estimates are for internet sales of home appliances to be 1 in 3 by 2016, up from 1 in 10 in 2010. Gome is in a similiar position as Best Buy in the U.S. which competes with Amazon.com and other online sellers. To compete Gome is promoting its own online shopping operations.
China's electronics retailer Gome Electrical Appliances
05/17/2010
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Gome Electrical Appliances and competition from online retailer 360Buy.com in China
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Gome faces from 360Buy.com the kind of competiton Best Buy faces in the U.S. from Amazon.com.
Linked Articles
Wall Street Journal 03/28/2012
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