FPT Retail recently announced its financial results for the first half of 2024, with consolidated revenue reaching VND 18,281 billion, a 22% increase compared to the same period last year, and completing 49% of its annual plan. Notably, online revenue for the company reached VND 3,213 billion, a 17% increase year-on-year. The company also achieved a pre-tax profit of VND 161 billion.
FPT Long Chau pharmacy chain operating efficiently
Impressively, the FPT Long Chau pharmacy chain contributed 63% of FPT Retail’s revenue in the first six months, with a revenue of VND 11,521 billion, a 67% growth compared to the same period in 2023. The chain maintained its operational efficiency, with an average revenue of approximately VND 1.2 billion per pharmacy per month, despite continuously opening new outlets.
In contrast, FPT Shop’s revenue accounted for only 37% of FPT Retail’s total revenue, amounting to VND 6,923 billion. During the second quarter of 2024, FPT Shop optimized its system by closing around 100 underperforming stores. Consequently, its revenue for the second quarter of 2024 decreased by only 7% year-on-year, a smaller decline compared to the 21% drop in the first quarter. FPT Shop’s average revenue per store stood at VND 1.6 billion per month, unchanged from the first quarter, despite the second quarter typically being a low season for shopping demand.
Currently, FPT Retail boasts a network of 2,435 stores, including 1,706 FPT Long Chau pharmacies, an increase of 209 pharmacies from the beginning of 2024. During the second quarter, Long Chau also expanded its vaccine injection centers to 87 locations by opening 36 new centers. Following the reorganization, the FPT Shop electronics and appliance chain now has 642 stores.
Bach Hoa Xanh of The Gioi Di Dong saw growth of over 40%
Similarly, the business results of The Gioi Di Dong Investment Joint Stock Company showed that in June, the retailer stepped up the review and closure of inefficient stores. As a result, the number of The Gioi Di Dong (including Topzone) stores at the end of June stood at 1,046, a decrease of 24 stores compared to the beginning of the month. Dien May Xanh also downsized, with 87 fewer stores than at the start of the month, leaving a total of 2,093 stores.
Likewise, the number of An Khang pharmacies significantly dropped by 45 to 481 stores.
Despite the closures, the business performance of the thegioididong (including Topzone) and Dien May Xanh chains remained positive in the first half of the year, with a combined revenue of VND 44,200 billion, a 6.3% increase year-on-year. Specifically, the total revenue of thegioididong (including Topzone) and Dien May Xanh in June reached VND 7,300 billion, a 10% increase compared to June 2023, but a slight decrease from the previous month due to the off-peak season for air conditioners.
The retailer confirmed that most product categories are performing well, with phones continuing to grow in sales compared to the previous month, and TVs achieving double-digit growth in May thanks to football-related events.
