EBT Mobile secures Wal-Mart tie-up
Friday, October 12, 2007
EBT Mobile China, the China-based mobile phone retailer, has signed an exclusive agreement with Wal-Mart China to be the only mobile retailer to operate inside Wal-Mart's stores in eight provinces in China. At least 20 stores are expected to be opened under the agreement before the end of 2007. This expansion will enhance EBT Mobile's position in these cities and regions and represents significant progress in EBT's strategy of 'Win With Winners'.
Overall sales during the Chinese holiday period were 45% ahead of those for the same period in 2006. EBT Mobile had 248 stores operating during the 2007 National Holiday period, compared to 158 stores during the 2006 period, which contributed to the overall growth in sales. Same store sales were down by approximately 14% against the comparable period in 2006. However, same store sales were negatively affected by the typhoon which hit Shanghai area on the last day of the holiday period, materially impacting that day's trading.
Chief executive Zhang Ge, said: “The cooperation with Wal-Mart adds another important partner to EBT's portfolio of trading relationships.
“The recent trading performance is in line with our expectations for the holiday period, given the impact of the typhoon. We will continue to pursue our strategy of maintaining margins rather than discounting in a period of traditionally intense competition, and continue to drive both sales revenue and margin in the operation.”
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