Mr. Panet Mahankanurak, Chief Financial Officer of Central Retail Corporation Public Company Limited (SET: CRC), revealed, “In Q1 2025, Central Retail continued to achieve steady growth amid various challenges, recording total revenue of 69,280 million baht (+3% YoY) and net profit of 2,337 million baht (+8% YoY). This strong performance is attributed to our robust CRC OMNI-Intelligence strategy and a flexible business portfolio, which enabled us to adapt quickly to changing circumstances. We also implemented the 3C strategy (Cash, Cost, and Capex) effectively managing expenses, investments, and maintaining financial stability. Additionally, the company saw increased sales through the Easy E-receipt scheme, despite a reduction in the eligible spending limit compared to the previous year. Consumer purchasing power in Vietnam also played a significant role, rebounding strongly during the Tet festival. Throughout Q1, Central Retail continued to expand its business as planned by opening new branches and renovating stores to better meet consumer needs. Highlights from each business category are as follows:”
- Fashion Business: Central Chidlom’s major transformation fueled a 47% year-on-year surge in Q1 sales. In January, Central Bangrak also underwent a revamp and was reintroduced under the concept of “Key Destination & Lifestyle Components”, emphasising One Stop Shopping with a curated collection of premium brands from Thailand and abroad. In addition, JUNGSAEMMOOL MEN, a new brand, made its debut, while Supersports at Central Westgate was renovated to elevate the modern shopping experience.
- Food Business: GO WHOLESALE expanded aggressively by opening 3 new branches within 2 months, targeting the Northeastern region with new locations in Udon Thani Province and Khon Kaen Province, and in the South at Hat Yai, Songkhla Province. The total number of branches now stands at 13 nationwide. Marketing efforts were ramped up to build brand awareness as a leading wholesale centre for food ingredients, under the concept “Your Success, Our Goal”.
- Hardline Business: Thaiwatsadu reinforced its position as Thailand’s No. 1 Omnichannel DIY Home Retailer with continued store expansion, recently opening a new location in Kalasin Province and bringing the total number of branches to 87 across 51 provinces in Thailand. Two key stores in Phuket Province, Phuket Festival and Phuket Thalang, were also renovated and transformed into hybrid stores under the Thaiwatsadu x BnB home format. This format combines two brands to serve a wide range of customers, including contractors, technicians, and general shoppers, supporting expansion and regional growth. Additionally, Power Buy strengthened its appliance and home equipment segment by introducing Shark Ninja, a leading American electrical appliance brand, to Thailand for the first time.
- Vietnam Business: Currently, Central Retail Vietnam operates 42 GO! Malls, 41 GO! Hypermarkets, and 14 mini go!. Two new GO! Malls launched in Q4 2024, Bac Lieu and Ninh Thuan, received strong positive feedback from Vietnamese consumers, with consistently increasing mall traffic. For 2025, construction is underway for two more GO! Malls in Hung Yen and Yen Bai, both expected to open in the second half of the year.
“The success across our business categories reflects the strength of Central Retail as a leading retail and wholesale organisation. We remain committed to driving future growth with prudence, adhering to rigorous risk management principles, including effective cash flow and investment management, strict cost control, and organisational development. We are also enhancing our workforce capabilities through a Human-AI strategy, leveraging innovation and new technologies to deliver the best experience and satisfaction for all stakeholders,” concluded Mr. Panet.
