Analyst Pin-board MWG – DMX Supermini to Further Fuel the Growth of the Consumer Electronics Segment
In June 2020, MWG rolled out the new format for its electronics chain DMX, namely DMX Supermini (DMS) stores, in Tien Giang. This brand-new format is the smallest in terms of store size, and generally located in untapped areas of the province. Initial results from 17 DMS stores in Tien Giang during two months were rather encouraging. Average monthly revenue hit the targeted plan of around VND1.1bn while yielding wider profit margins than existing formats. Following these positive results, MWG is now ramping up the opening of DMS stores nationwide in an effort to quickly consolidate its market share from mom-and-pop consumer electronics retailers in remote areas who are suffering amid the Covid-19. Last week, we joined the opening ceremonies of five DMS stores in Tay Ninh Province organized by the Group. Below is our quick take from store visits, and our view on the stock.
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