Gome Electrical warns of 2012 loss

Gome Electrical Appliances, the mainland's second-biggest home appliance retail chain, said yesterday that it would probably post a loss for last year under the weight of rising rents and its loss-making e-commerce business.

In a statement to the Hong Kong stock exchange, Gome said the losses were "closely linked with the negative impact on the group's business brought about by the consumption overdrafts as well as poor consumer sentiment and confidence as a result of the China's macroeconomic growth slowdown and economic stimulus policies termination".

via Business feed http://www.scmp.com/business/companies/article/1138282/gome-electrical-warns-2012-loss