FPT Shop make over VND 35 billion per day

In the first seven months this year, FPT Retail earned VND 7,147 billion, an increase of 29% yoy. Profit before tax reached VND 165 billion, up 44% yoy.

Thus, the company made more than VND 35 billion per day on average, up nearly 30% compared with 27 billion in the same period last year.

Online sales hit VND 1,154 billion, up 109% yoy, accounting for 16,1% of the revenue in the first seven months.

FPT Shop is currently the second largest retailer in Vietnam. By the end of July 2017, the company operates 438 stores nationwide. 

According to the data of Retail Asia Publishing Pte Ltd and Euromonitor Pte Ltd, earning USD15,717/m2, FP T Shop ranked first in terms of sales per sqm in Vietnam.

With regard to expanding product lines, FPT Retail recently became a strategic partner in providing Vivo smartphones in Vietnam, receiving them for the warranty. Vivo is currently among Top 5 smartphone manufacturer in the world.

In addition, FPT Retail has focused on investing in management systems to improve operation and service quality. After 3 years of self-study and development, FPT Retail successfully developed the Retail Chain Management System without spending any money on expensive solutions abroad and put it into use in May 2017. It includes 11 systems that manage the entire process and business operation.

“FPT Retail, joining the market for not too long, has demonstrated itself as a leading retailer. We highly valued the professionalism of the management at FPT Retail, as well as FPT Corporation’s corporate governance and operation, which serve as a robust foundation for FPT Retail’s future success in Vietnam’s retail market," said Vu Huu Dien, Investment Director at Dragon Capital,  one of the two funds just buying 30% of its shares in FPT Digital Retail JSC, equivalent to six million shares.

In 2017, FPT Retail plans to increase revenues by 27.5% and profit by 40% by boosting revenue of each store, keeping expanding the retail chain in the remote areas. Compounded Annual Growth Rates of revenue and profit before tax of FPT Retail for the period 2016-2019 are expected to reach 25% and 35%, respectively.