Poya Co Ltd (寶雅國際), which operates 97 retail outlets selling cosmetics, lingerie and stationery, could post double-digit percentage growth in sales and net profit this year, thanks to better cost controls amid the retailer’s steady expansion, Capital Investment Management Corp (群益投顧) said in a research report yesterday.
“Poya has seen its gross margin show mild improvements this year, reflecting its economy of scale has gradually shown positive effect,” Capital Investment said.
Gross margin could edge up to 40 percent this year from 39.66 percent last year, the report said.
Last month, Poya’s consolidated sales hit a record NT$759.68 million (US$25.28 million), with revenue in the first six months of this year rising 23.78 percent from the previous year to NT$4.13 billion, a company filing to the Taiwan Stock Exchange showed.
As the retailer is on track to expand the number of its outlets to 110 by the end of this year, it will have more bargaining power with suppliers, Capital Investment said.
Poya said earlier this year that its goal was to have 200 outlets within five years.
Meanwhile, Poya’s strategy of keeping fast-moving consumer goods at about 40 percent of its total products is margin accretive, E.Sun Investment Consulting Co Ltd (玉山投顧) said in a report.
This strategy could also help it find a niche market and be more competitiveness against its peers, such as Mirada (美華泰流行生活館) and J-Mart Department Store (佳瑪進口精品生活館), E.Sun Investment said.
Overall, Poya’s net profit this year could reach more than NT$650 million, up from NT$558.85 million last year, with consolidated sales close to the NT$9 billion mark, Capital Investment and E.Sun Investment said.
Poya shares were unchanged at NT$174 on the over-the-counter market yesterday, while the benchmark GRETAI fell 0.47 percent.
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