Leading electronics retailer adjusts focus to small provinces

August 18, 2014 | 17:00

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Tran Anh Digital World Joint Stock Company (HNX:TAG) seems to be switching its focus to smaller provinces, after a recent announcement that it will close one of its ten Hanoi stores on August 31.

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At the same time, the computer and electronics retailer has been preparing to open its first store in the northern province of Hai Duong in August and another in Nam Dinh in September.

“The closing of the Hanoi store is part of our new strategy,” said a representative from TAG. The Hanoi location to be closed is on Cat Linh street, which is only 15 months old. It is the smallest in TAG’s chain, at 170 square metres.

As a result of the closure, TAG will have 10 stores open in the north – nine in Hanoi and one in the northern province of Ninh Binh, which opened in June.

TAG joined the top 500 retailers in Asia Pacific this year, according to Retail Asia Publishing Pte and Euromonitor (Asia) Pte Ltd. It made a net profit of VND4.7 billion ($222,200) in the first half of 2014, down 60 per cent against the same period last year, while its revenue grew 43 per cent on-year to VND1.167 trillion ($55.3 million).

By By Khanh Tran

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