MWG's business results down slightly in November
MWG's business results down slightly in November
In November, revenues reached over VNĐ10.9 trillion, down by about 6 per cent compared to the previous month.
Mobile World Investment Corporation has announced that its total revenues reached nearly VNĐ112.3 trillion (US$4.4 billion) in 11 months of the year, a 13 per cent growth over last year, achieving 98 per cent of the annual plan, according to the company's report.
In November alone, the corporation earned more than VNĐ10.9 trillion, up by 10 per cent year-on-year, but down by about 6 per cent compared to the previous month.
Specifically, the Mobile World and Điện Máy Xanh chains generated a total revenue of VNĐ81.7 trillion in the first 11 months, a nearly 7 per cent increase over last year. Online sales for the first 11 months totalled VNĐ8.2 trillion, representing ten per cent of the combined revenue of both chains.
The company earned approximately VNĐ7.2 trillion in November from selling phones, computers and electronics, a 10 per cent year-on-year increase, but a 9 per cent decline from the previous month.
It attributes the monthly and cumulative revenue growth to strategic product focus, after-sales programmes and financial solutions to offer customers varied purchasing options.
The decline from October was mainly due to cooling demand for iPhones after their recent launch and the seasonal slowdown in laptop sales. However, the electronics category maintained revenue levels similar to the previous month.
As of the end of September, MWG operated 1,022 Mobile World stores (including Topzone) and 2,303 Điện Máy Xanh stores (including DMS), unchanged from the previous month.
For the Bách Hóa Xanh supermarket chain, the accumulated revenue for the first 11 months reached VNĐ37.4 trillion, up 37 per cent, driven by fresh produce and fast moving consumer goods (FMCG).
In November alone, revenue surpassed VNĐ3.5 trillion, remaining stable compared to the previous month. The average revenue per store in November dropped to just over VNĐ2 billion dong, following a consistent VNĐ2.1 billion per store maintained for the previous five months.
During an analyst's meeting, Phạm Văn Trọng, CEO of Bách Hóa Xanh Trading JSC, forecast a potential revenue growth for the chain in the remaining months of 2024, albeit not as robust as earlier in the year. Many stores had reached their service capacity based on current sizes (around 150 - 200 square metres).
Bách Hóa Xanh is now focusing on cost-cutting measures and revenue enhancements to achieve the full-year profit targets set by the leadership. The supermarket chain is also concentrating on improving sales efficiency for fresh produce and reducing in-store sales costs.
Regarding scale, similar to the mobile and electronics chains, the supermarket chain maintained its store count at 1,735 stores by the end of the previous month.
