“Walking the Talk”, Nguyen Duc Tai Shuts Down Nearly 100 An Khang Pharmacies in July, Focusing on Expanding Bach Hoa Xanh and Indonesia Markets

Mobile World Investment Corporation (coded MWG) has released its business results for the first seven months of 2024. The company achieved a revenue of VND 76,541 billion, a 15% increase compared to the same period in 2023, and completed 61% of its annual revenue plan (VND 125,000 billion).

In July alone, the Group’s revenue reached nearly VND 11,000 billion, a 10% increase compared to the previous year.

Breaking down by business segment, the Mobile World and Dien May Xanh chains (including Topzone) recorded a combined revenue of VND 51,300 billion in the first seven months, a 6% increase year-on-year. In July, MWG generated approximately VND 7,200 billion from the sale of electronics, appliances, and air conditioners.

According to the Group, July revenue increased by 5% compared to the same period last year but slightly decreased compared to the previous month as the peak season for air conditioners ended, and the football event concluded. With a diverse product portfolio and proactive sales strategies that bring practical benefits to customers, several product categories maintained positive growth as they entered the peak season, such as laptops and washing machines, alongside the consistent growth in the phone segment.

As of the end of July, MWG operated 1,028 Mobile World stores (including Topzone), a reduction of 18 stores compared to the end of June. Similarly, the Dien May Xanh chain also scaled down by 59 stores, resulting in 2,034 outlets.

Turning to the Bach Hoa Xanh chain, the business recorded a cumulative revenue of VND 23,000 billion in the first seven months, a 40% increase compared to the same period last year. In July alone, revenue exceeded VND 3,600 billion, a nearly 28% increase year-on-year, with both fresh produce and FMCG categories maintaining double-digit growth.

The average revenue per store in July reached VND 2.1 billion. Currently, the chain operates 1,704 stores, an increase of 3 stores compared to the end of June 2024.

In other business segments, the An Khang pharmacy chain underwent a significant restructuring, reducing the number of outlets by 94 within a month to 387 operating pharmacies at the end of July.

MWG’s leadership recently shared that the An Khang chain is going through a restructuring process, evaluating each pharmacy and closing down outlets that are underperforming and not contributing significantly to revenue and profits. According to the plan, by the end of 2024, the number of An Khang pharmacies will be reduced to approximately 300 stores.