Retailer Suning.com reports strong online sales in Q1

NANJING - Chinese retail giant Suning.com reported strong online sales volume in the first quarter (Q1) of 2020, according to its Q1 financial report released late Wednesday.

The company achieved an operating revenue of over 57.8 billion yuan ($8.2 billion) in Q1. Its sales volume rose 2.01 percent to 88.7 billion yuan, of which the share of online sales grew to nearly 69 percent, the report said.

During the coronavirus outbreak, Suning.com took advantage of its full-category products and self-operated logistics services to realize strong commodity sales, the company said.

From January to March, the e-commerce giant saw 23 million newly registered users, which brought its total number of registered users to 578 million, according to the report.

The epidemic has caused a big economic impact, but will not affect the long-term development of the Chinese economy, said Zhang Jindong, chairman of the company, adding that Suning will continue to seek steady growth and strengthen the construction of retailing infrastructure in 2020.