HONG KONG, June 10 (Reuters) - GOME Electrical Appliances Holdings Ltd, backed by private equity firm Bain Capital, said on Monday it expects its e-commerce business to turn a profit in 2014.
“We aim to achieve our goal of seeing a profit in e-commerce in 2014. I am confident we can achieve that goal,” Chief Financial Officer Fang Wei told Reuters after a shareholders’ meeting in Hong Kong.
GOME’s e-commerce business posted a first-quarter loss of 120 million yuan. Fang said the company would close 80 to 100 of its larger stores in 2013 and open 100 smaller stores. (Reporting by Donny Kwok; Editing by Miral Fahmy)