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.
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.
