Mobile World’s grocery chain reports rise in revenues
Mobile World’s grocery chain reports rise in revenues
Mobile World’s grocery chain Bach Hoa Xanh reported a 158 percent increase year-on-year in January-August revenues and a growing network of stores.
Bach Hoa Xanh's revenue of VND6.12 trillion ($263.3 million) accounted for 9 percent of the group’s total revenues, Mobile World said in its financial report, adding that mobile phones and electronics are its major revenue earners.
The number of Bach Hoa Xanh stores increased by 66 since the end of July to 725, meaning two new ones opened every day on average during August, each reporting average sales of VND1.5 billion ($64,500) a month.
Fresh and frozen foods currently account for half Bach Hoa Xanh’s revenues, and the chain soon plans to start selling household items, which are expected to contribute 8-10 percent of revenues.
Mobile World, a major retailer of smartphones and electronics, saw January-August revenues rise by 17 percent year-on-year to VND68.8 trillion ($2.96 billion) and after-tax profit climb 37 percent to VND2.7 trillion ($116.2 million).
