Dohome posts 23.8 per cent rise in sales

Thai home improvement retailer Dohome recorded a 23.8 per cent rise in sales for the third quarter on more robust business stemming from the easing of Covid-19 restrictions. Dohome disclosed earnings of 7.413 bn Thai baht (THB, EUR 201.931 mio) for the period, supported by a 14 per cent rise in same-store sales as well as the takings of new branches. Two large-format stores were opened that quarter.

The company, however, indicated that inclement weather limited gains for the period. "It was still affected by many factors such as the climate this year with more rainfall and a longer rainy period than usual," it said.

Accumulated sales for the period from January to September grew 27.8 per cent to THB23.473 bn.

Going forward, Dohome warned that its financial performance for the last quarter would likely be affected by floods that hit the province of Ubun Ratchathani, where its first branch is located, in early October. The flooding in the province destroyed roads, bridges and agricultural areas as well as submerging houses. Media reports state that rescue workers found 100 members of Dohome's staff inside the branch who stayed to protect the stock. They were unharmed.

Dohome said that incident led "to an adverse effect on the branch's sales and distribution". The Ubun Ratchathani store resumed operations on 30 October.