Central vows strong second-half showing

Central vows strong second-half showing

Stability, new stores invigorate retail giant

Central Group expects its retail sales in the last four months of this year to outpace first-half performance with the interim government returning economic stability, which is increasing consumer spending.

Mr Tos says Central Group has enjoyed a growth trend in recent months.

Chief executive Tos Chirathivat sees strong signs of economic growth after sales and visitors jumped starting in July.

Investors, tourists and consumers have been more confident since the May 22 coup, driving spending sentiment across the board, he said.

Last month, Central Group saw all business units ranging from department stores, hotels and resorts, restaurants, and consumer products generate double-digit growth of 10-15%, a positive sign for the country's economic prospects the rest of the year, Mr Tos said.

The group expects sales of 267 billion baht this year, up from 233 billion last year.

In the second half, it expects higher sales of fashion products, particularly in the fourth quarter.

The group laid out marketing strategies for the rest of the year.

The recent opening of CentralPlaza Salaya in Nakhon Pathom province has received a good response from consumers, and the group plans to expand into Asean markets with the opening of the first Central mall in Jakarta next month.

A second Robinson mall is scheduled for Ho Chi Minh City as a follow-up to the first branch in Hanoi.

Central Embassy also opened in Bangkok this year, targeting luxury shoppers.

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