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Central Retail Corporation Reports 6.4% Revenue Increase in Q1 2024, Driven by New Products and Expansion
National—
On May 13th, 2024, Mr. Yon Phoksap, Chief Executive Officer of Central Retail Corporation PLC, publicly disclosed Central Retail Corporation’s (CRC) operational performance for the first quarter of 2024, spanning from January 1st to March 31st, compared to the corresponding period last year.
CRC achieved a net profit of 2.1 billion baht, marking a 0.1% increase from the previous year, with total revenue reaching 67.2 billion baht, reflecting a 6.4% rise. This growth in revenue was driven by a total sales revenue of 60.3 billion baht, which surged by 6.4% from the previous year. CRC attributed this increase to the introduction of new brand products to meet customer demands, expansion and renovation of new branches, and the support received from the government’s “Easy E-Receipt” policy.
Moreover, CRC diversified its income streams through rental services and department stores, which attracted a larger customer base.
The total sales revenue was categorized into three sections: fashion, hardline, and food.
The fashion segment generated 16.2 billion baht, reflecting an 8.5% increase from last year, driven by domestic sales and operations in Italy. CRC capitalized on renowned fashion and lifestyle brands, aligning with customer preferences. Additionally, CRC expanded its footprint by establishing two new branches in Nakhon Sawan and Nakhon Pathom.
In the hardline category, encompassing household and office wares, revenue reached 19.4 billion baht, representing a 4.1% increase in Thailand. However, revenue from Vietnam experienced a decline due to cautious spending patterns amidst the country’s economic conditions.
The food segment generated 24.5 billion baht, marking a 7% increase from the previous year. During the first quarter, CRC inaugurated three Tops Supermarket chain stores in Bangkok, Nakhon Sawan, and Nakhon Pathom.
These commendable operational results underscore CRC’s robust business strategies, guided by the principles of Leading Excellence and Advancing Sustainability. Mr. Phoksap emphasized CRC’s commitment to enhancing customer and stakeholder experiences in Thailand, Vietnam, and Italy, signaling further advancements on the horizon.
For more insights into strong Q1 financial performances, explore our recent coverage on Carabao Group and CP All’s robust growth strategies and market expansion efforts.
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Bangkok Governor Orders Immediate Action After Udomsuk Intersection Floods Due to Heavy Rain and Slow Drainage
Bangkok—
On May 22nd, 2024, Bangkok Governor Chadchart Sittipunt, accompanied by relevant agencies, conducted a field inspection at Udomsuk Intersection in Bang Na, Bangkok, to address road flooding caused by slow drainage due to heavy rain.
The previous night, May 21st, Governor Chadchart and the agencies had inspected the area following severe traffic congestion caused by heavy evening rain, which took more than 30 minutes to drain the overflowed water.
During the inspection, officials found small fragments of brick and cement in some sewers. Additionally, the bottoms of some sewers were uneven, and certain sidewalks lacked proper slopes to direct water into the sewers, as reported by Governor Chadchart.
In response, Governor Chadchart issued an order for immediate action to clean the sewers and implement other necessary measures to prevent future flooding in the area. He emphasized that these steps would ensure that Udomsuk Intersection would not experience flooding again.
Read our recent article about the Thai Meteorological Department announcing that Thailand has officially entered the rainy season as of May 20th.
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Pattaya Goes Green with Sustainable Electric Transportation
Pattaya —
Pattaya City is advancing towards becoming a smart city by promoting eco-friendly transportation.
As part of this initiative, the city has recently received 12 fully electric Hilux Revo–e pickup trucks from Toyota Thailand to be used as public Songthaews around the city. These vehicles are operated by the Pattaya Bus Cooperative and currently run on four routes, including:
- Route 4 (5 vehicles): Laem Bali Hai – Banglamung District Office
- Route 5 (3 vehicles): Naklua – Jomtien
- Route 6 (3 vehicles): South Pattaya – Naklua
- Route 7 (1 vehicle): North Pattaya – Jomtien
According to Pattaya Mayor Mr. Poramase Ngampiches, the project is part of the “Sustainable Prototype City Free from Pollution” initiative, which aims to reduce carbon dioxide emissions from transportation in Pattaya and lay the foundation for a pollution-free public transportation system.
The electric Songthaews are expected to be in service from April 2024 to December 2025. So far, more than 4,500 people have used the service, covering a total distance of over 335,000 kilometers.
Mr. Poramase also revealed that Pattaya will soon house Thailand’s first hydrogen station for fuel-cell electric vehicles. He said, “The station will power Toyota’s vehicles for long-distance travel, possibly between U-Tapao Airport, Pattaya, and Chonburi.”
“Private companies venturing into the electric scooter market face hurdles as Pattaya reassesses regulatory frameworks,” stated Mayor Poramase.
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Annual Soi 6 Party Returns in June 2024 to Pattaya!
Pattaya, Thailand – Soi 6 is gearing up for its annual weekend street event, set to take place on June 12th and 13th. The festivities will run throughout the Soi’s typical opening hours, generally from around 4:00 PM to 2:00 AM, though this can vary slightly between bars.
Soi 6 is one of Pattaya’s most iconic streets, home to numerous bars, entertainment venues, restaurants, hotels, and various smaller shops. Situated in North Pattaya near the Runway market, it’s a well-known landmark for tourists seeking to experience a piece of Pattaya’s historic and cultural scene.
During the festival, participating bars will be marked with balloons to indicate their involvement in the massive celebration. Many bars will feature special themes, staff in themed outfits, complimentary food, and free shots for paying customers. Some bars will even host party games and offer special prizes or raffles. This annual event traditionally brings together enthusiasts of the lively street for drinking, socializing, and making new friends.
Related:Annual Soi 6 Party
Whether you’re a local resident or a visitor to Pattaya, the Soi 6 party is a fantastic opportunity to experience the vibrant nightlife and connect with fellow revelers. Mark your calendars for June 12th and 13th, and join in the fun at Soi 6!
See you at the Soi 6 Party along with thousands of others, including many singles looking to mingle.
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