My other love. The love that I wished I had more. Pity the boat has sailed far and away.
Q3 results – stun like vegetables
Taken from their Q3 slides, I’ll let the picture do the talking.
1. New outlets
2. Lower costs
i. Lower Malaysian Ringgit (offset with rising USD)
ii. Excellent cost control – Warehousing
iii. Productivity drive – more auto check out counters
Excluding new outlets’ contributions, existing stores registered a 1.1% growth in sale. This points towards expansion of its presence being the key driver as organic growth seems to be stagnating.
They’ve secured a new store at Dawson and is expect to contribute in November 2015. Their tactic to open stores in HDB buildings seems to be effective in keeping costs low and manageable. Notice they’ve no outlets in Town nor shopping malls.
Their online platform still looks in …