Dallas, Texas 03/05/2014 (FINANCIALSTRENDS) – Chinese E-commerce giant, E Commerce China Dangdang Inc (ADR)(NYSE:DANG) reported that it had hit the ball out of the park, with respect to its soaring net income for the fourth quarter and full year operations when it reported fourth quarter and full year results on 27th February.
E Commerce China Dangdang Inc (ADR)(NYSE:DANG) Executive Chairwoman and Executive Chairwoman of Beijing Dangdang Information Technology Co Ltd and also the company’s co founder while commenting about the huge build up in momentum in the firm’s business and return into profitability, has been quoted to have said that, “This reflects our commitment to improving our financial performance and a solid execution of our strategies to transform Dangdang from online bookstore into a integrated online shopping mall targeting mid- to high-end consumers. Our marketplace delivered another quarter of strong performance and growth.”
Sector Wise Performance
E Commerce China Dangdang Inc (ADR)(NYSE:DANG) reported that its “designation category” which included the fashion and apparel portfolio contributed close to 50 percent of the firms revenue. The segment has clocked strong growth in the previous quarters too and has outpaced its completion in the same time period. The Chinese firm also reported that its “baby and maternity” division too saw a fast paced growth. Its pioneering flash sales program too saw double digit growth and in order to grow the revenue stream, the company has added new products like, “cosmetics, books, food and the consumer electronics”.
Top Growing Sectors
The fastest growth was reported by the firms, “general merchandise” which clocked a hugely impress 80 percent increase on a year-over-year compare. The company also claimed that its online e book division too grew by a huge 28 percent during the 4Q. The firm also achieved efficiencies in its operations by cutting down on its travel/fuel cost and reducing headcount over the past quarter.