remained sluggish, due to weak purchasing power and the lack of any specific measures from the government. In the second half of 2017, the economy moved in a positive direction driven by industrial expansion
5.4% from the same period of the last year, which was mainly due to COVID-19 pandemic. Despite, the government imposed the lockdown policy, food business opened. However, the declining of customers
directives. Later, COVID-19 pandemic situation in Thailand saw positive signs, the government and government agencies eased restrictions to control the epidemic widespread of COVID-19 and issued measures to
limited operating hours, since March 2020. Together with the government relief measures, stores have been re-opened in Thailand, Italy, and Vietnam since 17 May, 18 May, and the beginning of May
command of government since March 22, 2020. this situation has affected to decrease in the Company’s revenue dramatically. However, in this quarter, the Company had launched the new collections such as
had to be closed according to government policy. But the company was able to adjust to its profitable operating results this quarter details as follows: Management Discussion and Analysis Q2/2020 Page 3
the operating result for the first quarter of 2020 In first quarter of 2020, the situation of global epidemic of Coronavirus disease 2019 (COVID-19) as well as the spread in Thailand, the government
or is equal to 48.3%. Due to the Company’s branches, where located in department stores, were temporarily closed by the command of government since March 22 to May 16, 2020. Furthermore, to response to
ongoing operations Re-opened Centara and Convention center Udonthani on July 1, 2020. After temporary closure of 34 shopping malls to complied with the government regulation to control the COVID-19 outbreak