Central Retail Corporation (CRC) has posted a 124% YoY jump in Q2 core profit, driven by store expansion, stronger margins and higher private-label sales across Thailand and Vietnam. CRC’s revenue in Q2 rose 3.5% to THB60.1bn ($1.8bn), while core profit jumped 124% to THB2.11bn ($63.8mn). H1 revenue increased 2.4% to THB126.63bn ($3.82bn). Central Retail continued to expand and renovate its network during Q2, opening new outlets for Tops, Supersports, Kis and CMG brand shops, as well as Power Buy, B2S, OfficeMate and Auto1 at Central Khon Kaen Campus and Central Northville. 

CRC also expanded into new growth segments, broadening its beauty offer with standalone Looks and Kis stores targeting younger consumers. It launched Haruki, a Japanese-style bakery concept, while further developing the Tops Daily Hybrid format through collaborations with Pet n’ Me and Tops Care. International tourism remained a bright spot for CRC, with sales to international tourists increasing more than 9% YoY in Q2. In Vietnam, Central Retail expanded its The 1 Vietnam loyalty program beyond food retail into non-food categories, including Supersports, Crocs, Dyson and Kubo. Across Thailand and Vietnam, the group’s loyalty ecosystem now has nearly 30mn members, comprising around 23mn in Thailand and 7mn in Vietnam.