0532 GMT - Home Product Center's accelerated store openings are likely to secure sales growth, Maybank Securities (Thailand)'s Suttatip Peerasub says in a research report as the brokerage maintains the stock's buy rating. The home improvement retailer wants to open 12 stores in 2025 versus nine stores in 2024, with expansion mostly in hybrid format with 'HomePro' and "Mega Home' businesses at same locations, the analyst notes. Hybrid stores reduce investment costs by 20%-25%, leading to savings on operating expenditure per store. However, the brokerage trims its 2025-2026 earnings forecasts for the Thailand company by 2% to reflect increasing selling, general, and administrative expenses. It lowers its target price to THB10.20 from THB13.00.Shares are 1.9% higher at THB7.90. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 13, 2025 01:32 ET (05:32 GMT)
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