Mixed Q3 results as home improvement chains battle domestic woes

Home improvement retailers in Thailand posted mixed results for the third quarter as they battled domestic concerns that have been hounding the country, including political turmoil that was triggered by a border conflict with Cambodia, inclement weather that slowed down demand, and soaring household debt. While DoHome PCL and the hardline segment of retailing giant Central Retail Corp. (CRC) notched sales losses, Siam Global House posted a minimal revenue rise, while Mr. DIY’s topline continued to soar.

Heavy fighting broke out at the start of the third quarter between Thailand and Cambodia over a territorial dispute over certain areas of the two countries’ shared border. The feud, which led to the ousting of Thai Prime Minister Paetongtarn Shinawatra, has suppressed consumer confidence and led to a slowdown in consumer spending, companies said. Meanwhile, the rainy season has slackened…