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ore in the ●country. Go●me acquired Beijing-●based riva〓l Dazhong in 2007 f■or 3.6 billion yua○n.The renovate●d Dazhong st●ore alone, covering○ 20,000 sq m〓, is expec■ted to post annual s■ales of 2 billion■ yuan, double its p〓revious sales num〓ber.The transfo○rmation comes at a t●ime when Go◆me is battling a■ slowing market and● investors worried a■bout the sca●ndal involving H●uang.Supplier■s are reportedl●y turning their ●backs on Gome and b●anks are unwillin●g to grant loan〓s. Gome has be〓en seeking st●rategic st〓ake sales to〓 repay debt and◆ boost its cash flow● after shares tumb●led by 77 perce◆nt last year

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.Gom●e controls 40 perce●nt of the mainl●and electron●ics retail mar○ket but lags Suning ■Appliances i■n profitabil●ity, and sa◆les per store.Suni●ng said it would〓 open 200 stores thi○s year, but comp●any execut○ives recently upg●raded that number◆ to 350, which e○xpands its p■ortfolio of stor■es to 1,200 by end-2?/p>

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?09.Suning ●also said it was ren●ovating its st◆ores in a bid to i●ncrease sales 〓per store. It is● also recruiting ◆more employees, inc●reasing the rat■io of 3C and sma■ll appliances〓 to achieve◆ higher prof■its, and setti■ng up 60 logistics■ centers in ○three years,○ the company s●aid.Some Chine○se cities have iss○ued coupons to〓 their reside○nts to boost cons●umption amid th●e global f

inanc●ial crisis. ●In Hangzhou half 〓of the coupons issu●ed before the Lu○nar New Ye●ar have already been〓 used. Coupons i●ssued in this● capital city ○of Zhejiang Provinc◆e were worth 100 m〓illion yuan. As■ Qi Tianxin○g finds out, th●e move has in◆deed driven up the ○sales of local r●etailers.Winter and ●early spring are tr◆aditionally slower s○easons for home■ appliance selle●rs. But in Hang〓zhou, home〓 appliances a〓re quite po〓pular and som〓e models a■re even low● on stock. A selle○r says, "previ○ous

ly we would ■sell two to three 〓sets, now t〓he volume has almost〓 tripled."Mo〓st consumer◆s in the stores ar〓e using the coupons●.A consumer s●ays, "it's ●cost-effectiv●e to buy things◆ using these coupo■ns." Data s■hows that by F■ebruary 10t◆h, 107 home a◆ppliance st●ores sold more ◆than 1,000 sets. Th●ey collecte■d 265 thousand yuan ○worth of c〓oupons. Driven by ■the coupons, home ●appl

th◆e largest by floo●

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iance sales● during this Sprin◆g Festival reac○hed almost f○ive times what◆ it was in t〓he previous〓 year. The coupon○s have also i◆ncreased sales● in superm■arkets, bookstores ○and cinemas○. By February 8th, ◆more than 5 ●hundred retaile○rs in Hangzho◆u received over 47〓 million yua●n wort

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h of c■oupons. Th●is is almost ●half of the to◆tal amount issued. ●80 percent of thi〓s was used i●n supermarkets.Relat○ed stories:■Blackstone Gr●oup LP will join ○Haier Group Corp ■to bid for Gener〓al Electric Co's app●liances unit and bu●ild a global bus◆iness to compet◆e with Electrolux AB?/p>

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? Britain's Sunday 〓Telegraph repo●rted, citing uniden●tified people.GE'○s auction of th○e unit, which is 〓being managed〓 by Goldman ○Sachs Group I●nc, may also attract● competitors■, including South ◆Korea's LG Electr●onics Inc,〓 the newspaper repor◆ted on Sun●day.Haier ●Group Corp, China'?/p>

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駍 largest maker o●f refrigerators and〓 air condi〓tioners, early◆ this month sai○d it was loo■king at GE's ○appliance ar〓m and other "op◆portunities●" as it seeks acq〓uisitions ov〓erseas."Haier will◆ make an assessment ●on the poss■ibility" of acqu●iring the GE d■ivision, Zhang● Tieyan, ch〓

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