Dear Colleagues
This is my first business update for some time as we have had a very busy start to the year – with some good things and some not so good!
The Electricals market in Thailand has been very tough and just like all our competitors we have been below our sales targets. However, with good cost controls and focus on margin management we managed to increase our profit in January vs the same month last year!
Sadly though, February has been a difficult period for us and in particular our problems with the changeover to new systems at the DC have held us back. Realistically, I think that these issues will take some more time to fully resolve but things are definitely beginning to improve and I would like to praise many people for their team spirit in working together to get the problem fixed.
Last Friday, at the business briefing, I told the story of my experience in cycle race once where things were also tough and how I got back on my bike and finished the race. Even if things are difficult today, I know that Power Buy is full of fighting spirit and that we will;
“never give up – keep on fighting!”
We have great plans for new stores, new products, new marketing a new website and even the launch of our Line site to look forward so we just need to stay focused and fight for every Baht, meanwhile our logistics problem will pass and the economy will pick up.
Finally, thanks to all you that made the SGM and Head Office Party so much fun on Friday night. My whole family had fun and once again it showed the Great Spirit which is so much a part of Power Buy.
Thanks again everyone
Bob