Thai Watsadu's sales flat in the third quarter

Revenues of the hardline segment of Thai retailer Central Retail Corp. (CRC) were flat in the third quarter. The Thai retailing giant disclosed that its hardline segment, which is under the Thai Watsadu brand, recorded sales of 17.945 bn Thai baht (THB, EUR 466,22 mio) in July to September 2023, 0.2 per cent lower than its take in the same quarter the previous year.

This was despite a solid performance from branches in tourism locations, renovated outlets, and new stores as well as a 25 per cent expansion in omnichannel sales stemming from promotional campaigns and online ordering programmes under Thai Watsadu. "The sales volume in Vietnam decreased as consumers were still cautious in spending amid its economic slowdown," the company explained. CRC operates electronics retailer Nguyen Kim in the country.

Overall, the segment managed to stay afloat, posting a 1.8 per cent uptick to THB 55.5 bn in the nine-month period ending September 2023.

The company opened three new Thai Watsadu outlets in the third quarter.