Gome Su Ning finally parted ways, who actually walked in the right way

A pair of game for more than 10 years old opponents, finally began to go their separate ways, who are they on the right path?

"Our feeling is suddenly enlightened and we are on the road." Gome Senior Vice President Yang in the 2013 annual results of the United States said to Sina technology.

In 2013, Gome emerged from its deficit crisis since 2012, making profits for 4 consecutive quarters and continuing to rise in earnings. In the quarter, some of Gome's listed companies ' net profit to the parent company reached 310 million yuan, a record high for the past two years.

Gome CFO Fang in explanation 2013 year performance special emphasis, Gome three core index compared to 2012 all achieved year-on-year promotion. Among them, the sales revenue from 51.1 billion to 56.4 billion, an increase of 10.4%, 897 compared with the same store income from 42 billion to 47.78 billion, an increase of 13.7%, integrated gross profit rate from 16.7% to 18.4%, increased by 1.7%.

"Same-store growth is the core of the retail industry's ability to, in the simplest terms, in the past day, we sold 100 people, and now a deal of 113 people." Gome President Wang Junzhou added, "We all say how e-commerce impact offline, but we still do the same store growth, which means that users to the offline channel is recognized." ”

Gome: We're making money.

Su Ning: We are putting

Unlike Su Ning, the main competitor, Gome has been a staunch defender of offline channels.

In the Gome earnings statement, Yang excited to the United States and suning financial data are compared. "The last quarter of our income growth reached 17.6%, peers (refers to suning) is negative 2.45%; we grew to 17.5% with the same shop, with only 1% peers, gross margin we reached 19.35%, peer down to 14.35%, this peer is who, I think we should understand." ”

Because Suning is out of the transition period, on the one hand, the real store growth slowed down, on the other hand, the business of strategic losses, resulting in huge performance pressure. In addition to Su Ning in June 2013 to implement the line under the same price strategy, gross margin was a great impact.

According to the previous performance letters, Suning 2013 's net profit attributable to the shareholders of the listed company is only 367 million, a sharp fall of 86.32% from 2012, operating income of 105.434 billion yuan, a small increase of 7.19% year-on-year, the gross margin down to 15.21%, Decreased by 3.48% over a year earlier.

However, it is worth mentioning that, although gome in the financial results did not list the revenue from the electricity business, but analysts predict Gome online 2013 gross income of not more than 5 billion yuan, which means that the company's revenue accounted for only 8.87% of Gome's total income.

By contrast, Suning's income has accounted for 20.7% of total revenue and is still growing rapidly. But it is also because of the strong investment in electric business, Suning 2013 may usher in "the most difficult year."

Speaking of performance, a senior of Suning said to Sina technology, "we do not want to compare with gome, we can say that we are not a type of company, we are investing in the future." ”

In Yang's view, Gome is able to do a strong Bisunin, because it has greatly enhanced the business ability of commodities, creating a "low-cost efficient supply chain."

Gome will be operating in three categories of goods, one is high Maori goods, one is conventional goods, the other is impulse goods. For high margin goods and impulse goods, gome using the procurement underwriting method, one-time buyout, and strongly recommended in the store. Sales of high margin goods increased from 17% in 2013 to 22%, and impulse goods were raised from 3% to 8%. Sales of conventional goods fell from 80% to 70% per cent.