New stores continue to push Mr. DIY Malaysia’s sales

Mr. DIY, Malaysia’s top home goods retailing chain, reported a 6.4 per cent increase in revenues in the third quarter, thanks to the contribution of new outlets.  The company, which runs eponymous stores in Malaysia and Brunei, disclosed revenues of MYR 1.135 bn (Malaysian ringgit, EUR 241.3 mio) for the period, as stores that are less than a year old pushed up total transactions by nine per cent and offset a decline in same store sales. "Total transactions … reach[ed] 45.3 million in tandem with the increase in store numbers," the company said.

But while more shoppers rang up purchases, they also bought fewer products per visit - basket size shrank 2.2 per cent owing to "tightening household spending and weaker consumer sentiment", Mr. DIY noted in its financial report. Further, costs also outpaced revenues - the company’s net income slipped 1.9 per cent to MYR 121.6 mio during the…