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Jewelry retailer PNJ posts 6% revenue decline

Jewelry retailer PNJ recorded a revenue of VND12.06 trillion ($513.36 million) in the first four months of the year, down 6.6% year-on-year.

Jewelry retailer PNJ posts 6% revenue decline

Its post-tax profit was VND859 billion, about the same as last year.

Demand for jewelry, gold and luxury products fell in the first four months, according to a spokesperson for the company.

Rising expenses and inflation also contributed to the decline in sales.

As of the end of April, PNJ had 376 stores nationwide.

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