Magazines Archives - 2007 November
Courts reports profits and increased sales, signs exclusive with Dell
COURTS SINGAPORE said that it achieved a net profit of S$1.78 million (US$1.23 million) for the first half of FY07-08, recovering from a loss of S$3.1 million year-on-year. For its second quarter, group sales increased by 21.5% to S$91.1 million over last years, with sales in Singapore accounting for 94% of group turnover, an increase of 28%.
Terry OConnor, CEO of Courts Singapore Limited, said: While we are seeing a buoyant domestic economy, the external environment continues to be competitive for retailers, with the entry of new players and rising operating costs.
This year, the group closed down four stores in the north-east region of Thailand and consolidated its business in the southern region. Meanwhile, in Singapore, the new Courts Megastore contributed largely to the increase in sales. Besides updating our stores, we have also rolled out the key success factors of Courts Megastore into other Courts stores to sustain our competitiveness, added OConnor.
In another development, the mega consumer electronics and IT retailer has entered into an exclusive retail partnership with Dell, making Dell products available in all nine Court stores island-wide from this month. Distinctive Dell concept areas have been set up in some of the larger Courts stores.
Said OConnor: I believe that by tapping on our established store network, Dell will be able to penetrate a new consumer segment to further extend its reach. Likewise, we see great synergies in offering Dell in our portfolio of leading brands.
Walt Mayo, Dells vice-president for consumer sales & marketing, Asia Pacific and Japan, agreed that this provides Dell an opportunity to reach out to customers whom it may not have reached in the past. Customers are increasingly sophisticated in how they buy and use technology, so it is only natural that a global brand like Dellpartners with Courts to provide a preferred shopping experience, he said.
Dell, which has made a name in IT retailing through its direct online sales, has also inked similar deals with Bic Camera in Japan, Gome in China, Carphone Warehouse in the UK, Staples in the US and Wal-Mart in the US, Canada, Brazil and Mexico. It opened its first retail store in Russia last month.