MR DIY remains on track for growth in 2021


KUALA LUMPUR (Bernama) -- MR DIY Group (M) Bhd remains on track for growth in 2021 with its three-pronged strategy to drive growth, deliver value, and achieve operational efficiencies.

Chief executive officer Adrian Ong said the group planned to add 175 new stores across its three brands, comprising 100 new MR DIY stores, 25 new MR TOY stores, and 50 new MR DOLLAR stores.

"We will continue to support the nation’s fight against the pandemic, whilst ensuring all our retail stores carry sufficient supplies of affordable COVID-19 essentials for the people," he said in a statement in conjunction with company’s maiden annual general meeting (AGM) today.

The largest home improvement network successfully hosted its AGM virtually with all ordinary resolutions receiving the approval of shareholders with voting carried out online.

Ong said the group's share of the home improvement retail market grew to 36.4 per cent in 2020, an increase of 5.5 per cent over the previous year.

"This growth was mainly driven by same-store growth, which increased by 4.4 per cent in 2020, and the growth in basket size, as customers were much more purposeful in their trips during the pandemic, with fewer trips to the store but more purchases during each visit," he added.

Ong noted that the company had processed over 95 million transactions, almost three times the population of Malaysia, in 2020.

"We are putting more focus on the use of data, analytics and technology, and will use the information to map our inventory to meet customer demand,” he said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

MR DIY

   

Next In Business News

Globetronics makes RM6.2mil net profit in Q2�
KLCI ends higher, bucking regional markets’ downtrend
Meituan sheds US$60bil after China crackdown fears deepen
Medac submits proposed enhanced SOPs
Palm oil extends rally to near record as supply outlook tightens
China shares plunge to 8-month low on regulatory woes
Unemployed graduates increased by 22.5% to 202,400 in 2020
LVMH shares edge higher as sales and profits rise
Nestle and Starbucks extend partnership to ready-to-drink coffee
China jitters drag Asian stocks to 7-month low

Stories You'll Enjoy


Vouchers