Vietnam’s leading retailer Mobile World posts 13% revenue growth in Jan-Apr

Vietnamese retail giant Mobile World Investment Corp (HoSE: MWG) reported a 13% year-on-year rise in revenue to VND48.6 trillion ($1.77 billion) in the first four months of this year, reaching 32% of its full-year target.

Its core mobile and electronics chains, The Gioi Di Dong (TGDD) and Dien May Xanh (DMX) respectively, brought in VND32.6 trillion ($1.26 billion) in revenue, up 11% from the same period last year.

In April, TGDD and DMX posted VND8.3 trillion ($319.8 million) in sales, up 13% month-on-month and 3% year-on-year.

Cooling products such as air conditioners, refrigerators, and fans surged between 30% and 100%, fueled by hot weather and enhanced services.

Bach Hoa Xanh (BHX), MWG’s grocery chain, contributed VND15 trillion ($578 million) in revenue during the four-month period, up 21% year-on-year. It opened 359 new stores in January-April, with nearly half located in central Vietnam.

As of end-April, MWG operated 1,017 TGDD stores (including TopZone), 2,025 DMX outlets, 2,129 BHX stores, 326 An Khang drug shops, and 99 Era Blue stores.

In 2025, MWG targets VND150 trillion ($5.78 billion) in revenue and VND4.85 trillion ($186.87 million) in net profit, up 12% and 30%, respectively.

MWG’s CEO Vu Dang Linh noted that while the mobile and electronics market grew 4-5% overall in early 2025, the firm’s retail businesses outperformed with a 12% growth. Consumer goods grew 7-8% market-wide, while BHX saw a 20% year-on-year rise, he added.

Speaking of tariffs, Linh said that potential duty risks may have limited indirect impact on MWG's demand outlook.

MWG’s total revenue growth stands at around 14% year-on-year. “Overall consumer demand is recovering modestly, likely growing just 6-8% this year,” Linh said. He added that potential tariff risks would have a limited indirect impact on MWG’s demand outlook.