Nov 01, 2021 07:23 PM

Retailer Reports Second-Largest Quarterly Loss in 17 Years

What’s new: Cash-strapped electronics retailer Co. Ltd. (002024.SZ) finished this year’s third quarter 4.12 billion yuan ($632 million) in the red, its second-largest quarterly loss since it first went public 17 years ago as sales continued to slump.

The embattled retailing giant’s dismal bottom line was a reversal from a reported net profit of 713 million in last year’s third-quarter, and it approached the company’s record 4.8 billion yuan loss for the fourth quarter of 2020, according to a Sunday exchange filing (link in Chinese).

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