Double digit sales growth for DoHome despite store closures

Thai home improvement retailer DoHome's revenues rose 27.3 per cent in the third quarter amid the closure of several branches, helped by the turnover of stores that remained open as well as by new outlets. The company made revenues of 6.062 bn Thai baht (THB, EUR 161.68 mio) in July to September when two large branches, seven mall-based stores, a shop in Lotus Korat, and other locations shut down at varying times.
"The Covid-19 pandemic intensified in mid-July. The government would order the measures to control high risk areas... Accordingly, the company had complied strictly," DoHome said in a statement. Operations went back to normal on 1 September, it added.
The growth in the third quarter is relatively muted - DoHome revenues rose by 38.5 per cent in the previous quarter.
Over the nine-month period ending September, DoHome made THB 18.59 bn (EUR 495.42 mio) in revenues, up 32.8 per cent, showing that the slowdown in the third quarter made a dent on the company's year-to-date results. In the first half, DoHome's revenues grew 36.1 per cent from the comparative period.At end-September, DoHome had 14 large branches and 12 ToGo branches.