In the Black in Second Quarter, E-Travel Firm Ctrip Will Open 6,500 Offline Stores by Year's End
Zhang Xia
DATE:  Sep 01 2017
/ SOURCE:  Yicai
In the Black in Second Quarter, E-Travel Firm Ctrip Will Open 6,500 Offline Stores by Year's End In the Black in Second Quarter, E-Travel Firm Ctrip Will Open 6,500 Offline Stores by Year's End

(Yicai Global) Sept. 1 -- Ctrip.com International Ltd. [NSDAQ:CTRP] has turned a profit in the second quarter, and plans to open 6,500 brick-and-mortar shops by year's end.

Its quarterly earnings report outed yesterday showed a 45 percent jump in net operating income to USD970 million (CNY6.4 billion), and a net profit of USD49.5 million, in contrast to losses of USD79.8 million recorded for the same period last year.

Ticket booking services, a highly seasonal business, saw a 49 percent jump in operating revenue to USD454.5 million in the quarter, accounting for almost half of the total. 

The firm also opened more than 400 offline stores in the first two quarters, with sales at some topping USD300,000 (CNY2 million), so it plans to increase the total number of physical shops to 6,500 later this year, said Sun Jie, its chief executive.

Ctrip is a leading online travel service provider in China and ranks among the world's three largest companies in the sector by valuation.

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Keywords:   Ctrip,Financial Performance