Economic headwinds, global challenges hit Thai home improvement retailers in Q2

Thai home improvement retailers felt the impact of national and global economic uncertainty in the second quarter as they saw sales fall between 4.6 per cent and 9.2 per cent during the second quarter. Mr. DIY Thailand, however, bucked the trend with sales revenues rising a whopping 27 per cent during the period, likely due to the opening of new stores in the country.

In respective disclosures  to the Stock Exchange of Thailand, Siam Global House reported that its net sales for the second quarter hit 8.183 bn Thai baht (THB, EUR 215.3 mio), down 6.11 per cent from the same quarter the previous year, while DoHome recorded a 9.2 per cent drop in revenues from sales to THB 7.19 bn (EUR 189.1 mio). The hardline segment of multi-category retailing giant Central Retail Group, which operates in both Thailand and Vietnam, saw a four per cent drop in sales to THB 17.75 bn (EUR 467 mio) during the…