Hardline sales of Thailand’s Central Retail rise slightly

The hardline segment of Thai multi-format and multi-category retailing giant Central Retail Corp. (CRC) saw a 2.9 per cent increase in sales in the first quarter of the year, the company said. In the financial report it submitted to the Stock Exchange of Thailand, CRC said that it recorded sales of 18.72 bn Thai baht (THB, EUR 493.18 mio) for the first three months of 2023. Against the fourth quarter of 2022, this was also 2.2 per cent better.

“This quarter achieved growth in sales among both existing and new stores. Branches located in tourism provinces grew stronger,” the company stated. It added that online sales also rose 26 per cent from the previous year.

CRC noted that Thai Watsadu’s sales growth came amid a slowdown in the construction and do-it-yourself industries in Thailand. It added that Thai Watsadu, which is currently ranked second in Thailand’s home improvement industry, launched four new branches during the quarter: in Rangsit in Bangkok, Kampangpetch, Nakhon Ratchasima and Phuket. As of end-March, Central Retail has 74 branches of Thai Watsadu and BNB Home, its other home improvement brand. “The company now plans to open a total of ten branches this year under two key formats: Thai Watsadu and Thai Watsadu x BnB home (hybrid format),” it added.

The hardline segment’s sales made up 33 per cent of CRC’s overall sales of THB 56.71 bn. Apart from its hardline segment, CRC also operates food and fashion brands in Thailand, Italy, and Vietnam.