In the first quarter of 2023, FPTShop chain was continuously affected by the pressure of demand reduction, the strong competition among retailers, led FRT to offer many discount and promotion programs to stimulate demand of ICT products, especially Apple products.
The above pressure caused the revenue of the general market to drop sharply in the first quarter, FRT has made continuous efforts, bringing the revenue of FPTShop chain in the first quarter to 4,513 billion dong, down 20% over the same period;
In the unfavorable general market conditions in Q1.2023, Long Chau Chain has always strived to accompany customers to share the burden, providing the best products and services to customers. As a result, customers believe Long Chau in choosing health care products, therefore, Long Chau maintained the speed of store expansion as well as the operational efficiency of each store, bringing Long Chau’s revenue to revenue reach VND 3,284 billion, up 52% compared to the first quarter of 2022.
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From a consolidated perspective, FRT recorded flat revenue in the first quarter of 2023, reaching VND 7,753 billion. With the above difficulties of FPTShop chain, consolidated pre-tax profit reached VND 2 billion, down 99% compared to the same period in 2022;
Online sales of the whole company mainly comes from the FPTShop chain. Although FPTShop chain's revenue dropped sharply, online revenue only decreased by 4% compared to the first quarter of 2022 to reach VND 1,410 billion, accounting for 18% of total consolidated revenue.
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By the end of the first quarter of 2023, the FPT Shop chain has 807 stores; in which, the number of stores selling household goods reached 424 stores, an increase of 144 stores compared to the beginning of 2023;
Long Chau increased the number of revenue-generated pharmacies to 1,056 pharmacies, opening 119 new pharmacies compared to the beginning of the year.
