Global House reverses sales decline in the second quarter

Siam Global House, one of Thailand’s biggest home improvement retailing chains, has managed an incremental rise in net sales in the second quarter despite the persistent lag in the performance of its mature outlets. The company disclosed sales of 8.715 bn Thai baht (THB, EUR 226.176 mio) for the April to June 2024 period, up 2.5 per cent from the same quarter the previous year.

Global House attributed the uptick mainly to the opening of eight new outlets from July 2023 to end-June 2024, for a total store count of 87 at the end of the period. Data from the company show that mature stores continued to weigh down on sales by receding 2.27 per cent in the second quarter. This was, however, an improvement from the previous quarter, when the 5.41 per cent fall in comparative sales led to a 1.86 per cent slip in the top line.

For the first half of the year, Global House posted net sales of THB…