Central Retail Corporation Reports 6.4% Revenue Increase in Q1 2024, Driven by New Products and Expansion


On May 13th, 2024, Mr. Yon Phoksap, the Chief Executive Officer of Central Retail Corporation PLC, publicly revealed the operating results of Central Retail Corporation (CRC) in quarter 1/2024, January 1st to March 31st, compared to the same period last year.

The CRC had a net profit of 2.1 billion baht or 0.1% higher than last year and the total revenue was 67.2 billion baht or 6.4% higher than last year. The total sales revenue was 60.3 billion baht or 6.4% higher than last year as the CRC supplemented its new brand products to meet the customers’ demand, expanded and renovated new branches, and received support from the government policy “Easy E-Receipt”.

Furthermore, the CRC had additional income sources from rental services and department stores that boosted more customers.

The total sales revenue could be divided into three sections including fashion, hardline, and food.

The fashion section could generate 16. 2 billion baht or 8.5% higher than last year from domestic sales and Italy. The CRC gained supporters from famous fashion and lifestyle brands that meet the customers’ demands. Moreover, the CRC established two more branches in Nakhon Sawan and Nakhon Pathom.

The hardline section including house and office wares could generate 19.4 billion baht or 4.1% higher than last year in Thailand. However, revenue from Vietnam decreased as customers were vigilant to spend money according to the country’s current economy.

The food section could generate 24.5 billion baht or 7% higher than last year. In the first quarter, the CRC established its three chain stores, Tops Supermarket, in Bangkok, Nakhon Sawan, and Nakhon Pathom.

The successful company operating results were from strong business strategies from the CRC under the concept of Leading Excellence and Advancing Sustainability. Moreover, the CRC would advance further to give the best experience to customers and stakeholders in Thailand, Vietnam, and Italy, according to the Chief Executive Officer of CRC.

Read our previous article about Carabao Group and CP All Report Strong Q1 Financial Results, Reflecting Solid Growth Strategies and Market Expansion.

This article originally appeared on our sister website The Pattaya News.

Kittisak Phalaharn
Kittisak has a passion for outgoings no matter how tough it will be, he will travel with an adventurous style. As for his interests in fantasy, detective genres in novels and sports science books are parts of his soul. He works for Pattaya News as the latest writer.