In August 2024, Bach Hoa Xanh recorded a remarkable revenue of over VND 3.6 thousand billion, a 25% increase compared to the same period last year. This impressive growth is attributed to the positive trend of improving store revenue, which has been consistent from 2023 to 2024.
Bach Hoa Xanh has maintained an average revenue of VND 2.1 billion per store since June 2024, even as the chain prepares to expand with new outlets. In August alone, MWG reported the addition of 17 new stores to the Bach Hoa Xanh system, bringing the total number of stores in the chain to 1,721.
CEO Pham Van Trong: Bach Hoa Xanh store revenue growth to stabilize in the coming period
Bach Hoa Xanh prepares to open new stores after turning a profit for the first time
Meanwhile, The Gioi Di Dong and Dien May Xanh collectively achieved a monthly revenue of VND 7.5 thousand billion in August, marking a nearly 10% increase year-over-year and a 5% rise from the previous month.
The phone and air conditioner segments were the primary growth drivers for the month. Additionally, MWG highlighted the strong performance of the laptop category, which experienced double-digit growth during the back-to-school season.
For the first eight months of the year, the combined revenue of The Gioi Di Dong and Dien May Xanh reached VND 58.9 thousand billion, a 7% increase compared to the same period last year. Online channels contributed significantly to this success, accounting for 11% of the total revenue.
It is worth noting that MWG’s An Khang pharmacy chain is undergoing a rapid store closure trend. In August alone, 51 stores were closed, and from May to August, the number of discontinued stores reached 200.
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Rapid Downsizing
200 An Khang pharmacy stores closed within 3 months Unit: stores
(*) As of the end of each month. Source: MWG Business Update Report
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