CRC’s hardline business flat in the second quarter

The hardline business of Thai retail conglomerate Central Retail Corp (CRC) ended the second quarter with flat sales, as a strong performance at home was offset by a slowdown in its Vietnamese operations. 

CRC told the Stock Exchange of Thailand that its hardline business made 18.596 bn Thai baht (THB, EUR 491.14 mio) during the quarter, down 1.3 per cent compared to the same period the previous year. Compared to the preceding quarter, sales revenues were down 4.6 per cent.

CRC's hardline segment - which also operates shopping malls, food and fashion companies in Thailand, Vietnam and Italy - trades under the brand names Thai Watsadu, BnB Home, Nguyen Kim and others.

“Sales in Thailand witnessed an upward trajectory owing to the establishment of new branches. In this quarter, four new stores of Thaiwatsadu launched,” the company said, adding that the increase in tourism also helped the…