Scan-D Corp (詩肯), a retailer of furniture, bedding and kitchen appliances, plans to speed up its expansion nationwide this year with the aim of opening 10 to 15 more stores and boosting sales growth in existing stores by about 10 percent from last year, the Chinese-language Liberty Times (the sister newspaper of the Taipei Times) reported on Sunday on its Web site.
The Taoyuan-based firm manufactures and sells teak furniture under the Scanteak (詩肯柚木) brand.
In 2012, it launched its second brand, Scan Living (詩肯居家), which features leather sofa collections and Scandinavian-style furniture.
A third brand, Scankomfort (詩肯睡眠), entered the local market in 2016 with a focus on bedding products.
Scan-D operates a total of 119 stores in the nation: 83 Scanteak outlets, 32 Scan Living stores and four Scankomfort shops.
The company aims to increase its total number of stores to more than 130 this year, with net increases of three stores for Scanteak and 10 outlets for Scan Living, the Liberty Times reported.
Scankomfort is also to accelerate its pace of expansion this year, the newspaper added, without offering details.
Scan-D sales for the whole of last year increased 10.22 percent from a year earlier to NT$1.81 billion (US$61.8 million), company data showed.
The firm expects its business to continue growing this year, along with its market share, as it aims to integrate big data analytics into its design process to create products that best meet the needs of its customers, the report said.
The nation’s furniture market generates about NT$100 billion in sales per year, the Liberty Times quoted Scan-D chairman Lim Pok Chin (林福勤) as saying, suggesting that the firm has ample room to grow.
It has not released profit figures for the final quarter of last year.
Operating income in the first three quarters of last year totaled NT$180 million, up 44.04 percent from a year earlier, while net income in the period reached NT$151 million, a year-on-year increase of 42.1 percent, with earnings per share of NT$3.49, company data showed.
For the whole of last year, earnings per share could reach as high as NT$5, the report said, citing analysts’ estimates.
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