Jewellery chain PNJ retail sales up significantly in first 9 months

Jewellery chain PNJ retail sales up significantly in first 9 months

HCM CITY — Phú Nhuận Jewelry JSC achieved a pre-tax profit of VNĐ 六 四 二 billion (US$ 二 七. 六 million) on net revenues of VNĐ 一 一. 七 trillion ($ 五0 四. 二 million) in the first nine months of the year.

The retail segment continued to be a growth driver in the third quarter, with its sales rising by  九. 五 per year-on-year and accounting for  五 五. 七 per cent of total revenues.

Gold bullion sales increased by  一 九. 一 per cent in Q 三.

Wholesale revenues decreased significantly.

The company said comprehensive optimisation of its retail network helped it achieve positive growth in retail sales through the year has otherwise been made tough by the COVID- 一 九 pandemic.

Lê Trí Thông, its CEO, said PNJ is optimising revenues at each point of sale. The company plans to close stores that are not doing well, mainly those selling silver jewellery and inside shopping malls, and expand independent outlets at prime locations, he said.

Last week the company opened the first PNJ Next store and PNJ Centre in Bình Dương Province.

It has opened  二 四 of the  三 一 new stores it plans to open this year and upgraded eight gold jewellery outlets. — VNS