Long Chau’s turnover in the first quarter increased by 2.5 times compared to the same period in 2019, FRT plans to open 40 new stores in the second quarter
(VNF) – FPT Digital Retail Joint Stock Company (FPT Retail, HoSE: FRT) has announced the production and business results of the first quarter of 2020.
Long Chau’s revenue in the first quarter increased by 2.5 times compared to the same period in 2019, FRT plans to open 40 new stores in the second quarter. (Photo)
Accordingly, in the period, the Company brought in VND 4,093 billion of turnover, which is decreased by 3% compared to the fourth quarter of 2019. The profit before tax of the Company during the period reached VND 47 billion.
In FPT Retail’s system, Long Chau chain has gained VND 239 billion of turnover, up 20% compared to the fourth quarter in 2014, 2.5 times as much as that in the same period of 2019.
During the period, the Company has been focusing on promoting online sales, especially during Covid-19 epidemic period. Accordingly, the online turnover in the first quarter of 2020 reached VND 1,107 billion, up 20% compared to the fourth quarter of 2019, accounting for 27% of FRT’s total turnover.
Regarding the store network, at the end of the first quarter of 2020, FRT had 603 FPT-shop stores in total. At the same time, there were 83 Long Chau stores spreading across 19 provinces and cities, which is 13 new stores compared to the end of 2019.
Currently, Long Chau has decided on 40 locations to open new stores in the second quarter of 2020.
Besides, FPT Retail has decided on the date of organizing the annual General Meeting of Shareholders in 2020, which is 28 May 2020, under offline and online meeting.
Before that, the Company planned to hold the General Meeting of Shareholders on 20 March 2020; however, the meeting was postponed due to the complicated situation of Covid-19 epidemic.
According to Ha Thu, Vietnam Finance
Published May 6, 2020