Ms. Sunee Seripanu, Chief Executive Officer said "In Q3 2016, MC continued to operate under the company's strategic framework by bringing more varieties of top-wear products i.e. T-shirts, jackets, and polo-shirts, to the market through promotional campaigns at our free-standing stores that offer great value to customers and well respond to their changing lifestyles. Our success is evidenced in the 9.8% and 14.8% same-store sales growth for the three and nine month periods in 2016 compared to the same periods last year."
"For the first nine months of 2016, overall gross profit margin of MC declined to 53.6% from 57.1% in the same period last year due to continuous marketing campaigns launched from the beginning of the year to stimulate spending, give back to customers, and reduce inventory level. However, our gross profit margin improved quarter on quarter to 55.0% in Q3 2016 from 54.5% in Q2 2016 and 51.8% in Q1 2016 thanks to effective marketing campaigns."
"At the end of Q3 2016, with the net addition of 7 outlets in 2016, MC operated 287 free-standing outlets, 555 modern trade outlets, 6 mobile units, and 25 international points of sales in Myanmar, Laos, Vietnam, and Cambodia."
Ms. Sangkae Hanvanich, Senior Executive Vice President – Marketing Group added that "For the last quarter of this year, the Company continued to develop new products to serve consumer lifestyles. In early November, MC launched a new brand "UP", a sport apparel brand designed for both men and women. Customers can mix and match UP products with other clothing so as to best match the lifestyles they live. UP products are made from innovative "Hydrophilic fabric" that contains synthetic fibers to keep the body dry and comfortable. The products, while sourced locally, are manufactured up to international standards."
Ms. Sangkae further added that "Customer spending typically reached its highest level in the final quarter of the year as we head towards various festive seasons including Christmas and new year holidays. In the last quarter of this year, however, MC is working to respond to our customers' rising demand of appropriate attires in black, white, and dark colors for the mourning period. The Company is carefully monitoring product sourcing and inventory management to ensure that we supply sufficient quantity of products for our customers using well selected campaigns in the context of the current situation. The Company still maintains its annual revenue growth target at 15% with gross profit margin of 53%-54%, down from 56%-57% in response to the situation in the final quarter of this year."
Ms. Sunee Seripanu, Chief Executive Officer added that "Time Deco Corporation ("TDC"), an operator of the Company's watch business and a 51% subsidiary of the Company, had undergone restructuring of management and revision of business plan to offer revamped, and more exciting, product offering, new promotional campaigns that offer greater value for customers, and an enlarged and more convenient sales network through MC's online market place at www.mcshop.com and corporate sales, for example. The Company remains confident in the future of the watch business in 2017."