According to the business results report for the first 8 months of 2024 just announced by Mobile World Investment Corporation (stock code MWG), although closing up to 70 stores belonging to the Mobile World, An Khang, Dien May Xanh and Ava Kids chains, this company opened 17 more Bach Hoa Xanh stores and 6 EraBlue stores (joint venture in Indonesia).

Although An Khang is the chain with the most closed stores in August, it only accounts for a very low proportion of the total revenue structure of Mobile World Company.

According to the revenue structure of this company as of August 2024, the Dien May Xanh chain accounts for the highest proportion with 45.7% of total revenue. Next is the Bach Hoa Xanh chain with 30.4%, the The Gioi Di Dong chain (including Topzone) accounts for 21.2%, the remaining chains (including An Khang) account for only 2.7% of total revenue.

Previously, the company said the stores were closed due to ineffective business. The closures were aimed at optimizing the revenue of the chains in the system.

Thanks to that, according to the report, the total cumulative revenue of all Mobile World chains after the first 8 months of the year reached VND 87,967 billion, an increase of more than VND 11,000 billion compared to July 2024 and an increase of 15% over the same period last year.

In August 2024 alone, the total revenue of the Mobile World chains (including Topzone) and Dien May Xanh reached nearly 7,500, an increase of 5% compared to the previous month and an increase of 10% compared to the same period last year.

The growth momentum came from the phone segment, which posted positive month-on-month growth, along with the air conditioner segment, the company explained. In particular, the laptop segment saw double-digit growth during the back-to-school season thanks to ample inventory and attractive promotions.

Similarly, the Bach Hoa Xanh chain achieved revenue of more than VND 3,600 billion in August 2024, a slight improvement compared to the previous month and a 25% increase compared to the same period last year.

The average revenue of each Bach Hoa Xanh store remained at 2.1 billion VND. The reason for the increase in revenue was thanks to the contribution of both fresh and fast-moving consumer goods.