Mr. Yol Phokasub, Chief Executive Officer of Central Retail Corporation Public Company Limited stated (SET: CRC), “Central Retail’s performance in Q3 of 2024 reflects a continued positive growth trend, with total revenue of 63,114 million baht (+6% YOY) and a net profit of 2,129 million baht (+86% YOY). This success is due to the ongoing expansion of our retail and wholesale business as planned, along with the refresh of various stores, the addition of new brands to our portfolio in Thailand, Vietnam, and Italy, and efficient management of the 3Cs (Cash, Cost, Capex). In the third quarter, Central Retail opened 2 new Thaiwatsadu branches, expanded GO Wholesale in southern Thailand with 2 new branches in Phuket, and launched another GO! mall and GO! hypermarket in Vietnam. This has led to strong growth throughout 9 months in 2024, with total revenue of 193,538 million baht (+6% YOY) and a net profit of 5,960 million baht (+22% YOY).”
For the Q4 of 2024, Central Retail is set to continue driving business growth through the high season, with the following key plans:
- Fashion Business
- Central Chidlom Department Store will celebrate the Grand Opening of “The Store of Bangkok” on December 12, 2024, offering a world-class luxury ‘One-Stop Shopping’ experience for both Thai customers and international tourists.
- Hardline Business
- Thaiwatsadu plans to open another branch in Phrae Province, reinforcing its position as Thailand’s no.1 DIY Home Retailer, with a total of 86 branches by the end of 2024.
- Food Business
- Tops will expand with 9 additional branches across all formats, reaching a total of 690 branches nationwide by the end of 2024.
- GO Wholesale will open a new branch on Charoen Rat Road in December, aiming to end 2024 with a total of 10 branches nationwide. This emphasises its strength as a comprehensive food wholesale centre under the “Grow with Go” concept, establishing itself as a New Growth Engine for Central Retail.
- go! supermarket in Vietnam is set to expand with 4 additional branches, totalling 14 branches across 10 provinces by the end of 2024.
- Property Business
- Robinson Lifestyle will launch a new business model, the “Strip Mall,” for the first time at Robinson Lifestyle Kanchanaburi. The new format will feature a variety of shops and services to meet customers’ lifestyle needs, attracting higher customer traffic and offering more opportunities for local small businesses.
- GO! mall and GO! hypermarket in Vietnam are accelerating growth with 2 new branches in Bac Lieu and Ninh Thuan, responding to Vietnam’s economic upswing, with a target of ending 2024 with a total of 42 GO! malls across 32 provinces in Vietnam.
In addition to rapid branch expansions across its businesses, Central Retail and its subsidiaries are launching a major year-end campaign under the concept “CELEBRATION OF HAPPINESS.” This grand holiday festival aims to create a joyful atmosphere, welcome tourists, and boost Thailand’s economy in the final quarter. The campaign includes festive decorations at Central and Robinson Department Stores, offering everyone a chance to enjoy and capture memorable moments. Tops and GO Wholesale are featuring gift hampers for special holiday gifting, while Thaiwatsadu x BnB home offers a selection of Christmas trees that are real Canadian pine trees known for their fragrance. Robinson Lifestyle malls are also partnering with Disney & PIXAR to create a joyful atmosphere with themed decorations, special pop-ups, and exclusive collections available only during the festive season. Don’t miss out! Shoppers can also find special gifts to spread holiday happiness easily through Central Online, Tops Online, and Central Retail’s comprehensive omnichannel platforms and services.
