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🇹🇼 Taiwan /Economy & Trade

Scino's May Revenue Jumps 18.1% Year-on-Year, Second Half Momentum Supported

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

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  • Taiwan's furniture chain leader, Scino (6195), reported a 18.1% year-on-year increase in May revenue, reaching NT$205 million.
  • The growth was driven by improved operational efficiency, stable consumer markets, and a slight recovery in the housing market, particularly the delivery of pre-sale homes.
  • Scino anticipates continued support for furniture sales in the second half of the year due to ongoing new home demand and upgrade needs, despite market uncertainties.

Taiwanese furniture retailer Scino (6195) announced a robust 18.1% year-on-year revenue increase in May, bringing in NT$205 million. This growth, a 24.2% rise from April, reflects improved operational efficiency, a stable consumer market, and a modest rebound in housing transactions.

The company highlighted that while the second quarter is traditionally a slower period, demand from first-time homebuyers and the wave of pre-sale home deliveries are boosting furniture sales. Scino expects this momentum to continue into the second half of the year.

Both Scino's core business in Taiwan and its investment in Singapore's NOVA subsidiary saw double-digit growth in May. The Taiwanese operations grew by 15.41% year-on-year, while NOVA achieved a strong 24.31% increase. Cumulatively, Scino's revenue from January to May reached NT$1.074 billion, a 14.79% rise compared to the same period last year.

The delivery of pre-sale homes drives furniture sales.

— ScinoExplaining the drivers of furniture sales.

This surge is partly attributed to Mother's Day promotions and the ongoing "new home economy." As more pre-sale homes purchased during the 2020-2023 housing boom enter the completion and delivery phase, demand for furniture, appliances, and interior decoration is rising. This one-time purchasing need from new homeowners significantly bolsters Scino's performance.

Recent statistics show a notable increase in housing transactions in May across six major cities compared to April. Coupled with a strong stock market performance, which has led to wealth effect and increased consumer spending, the outlook for the home furnishings sector appears positive. Despite potential uncertainties in the housing market, such as credit controls, Scino believes that the sustained demand from new home deliveries and upgrades will support the furniture market. The company plans to cautiously expand its store network, focusing on enhancing same-store sales growth.

The new home economy demand is expected to continue supporting the furniture market.

— ScinoDiscussing future market trends.
DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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