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MWG reported net revenue of 46.508 trillion VND in the first quarter of 2026, up 29% year-on-year, which translates into an average daily revenue of 517 billion VND, according to its Q1 2026 operating report.
For 2026, MWG targets revenue of 185.000 trillion VND, up 18% from last year’s record. With the Q1 result, the company has achieved 25% of its full-year plan.
In Q1 2026, MWG’s DMX group—including Dien May Xanh (DMX), Topzone, EraBlue and Thợ Điện Máy Xanh—generated 32.400 trillion VND, up nearly 34% year-on-year. MWG said all chains in Vietnam posted double-digit revenue growth despite not opening new stores.
Topzone delivered the strongest performance, supported by a 60% increase in Apple product revenue. Core product categories also recorded revenue growth ranging from 15% to 65%.
In consumer finance and utility services, revenue from buy-now-pay-later rose 50% year-on-year. MWG said 97% of products applied installment payments. The total value of utility payments and bank agency services reached 27 thousand billion VND from 18 million transactions.
Thợ Điện Máy Xanh recorded 45% revenue growth in Q1 2026, with revenue outside DMX accounting for 18%.
Compared with Q1 2025, EraBlue revenue reached 906 billion IDR, doubling year-on-year. The company attributed the growth to 117 new stores and a 25% increase in existing stores. EraBlue currently operates 212 stores, targeting 500 stores by 2027 and 1,000 by 2030, with the expectation that it will erase cumulative losses in Q3 2026.
Bách Hóa Xanh (BHX) reported about 13.100 trillion VND in Q1 2026 revenue, up 19% year-on-year. Expansion included 280 new stores, with about 18% added in the North and 14% in the Central region. MWG said that even with new stores entering operation in March 2026, the group still posted positive operating profit at the store level in the first quarter.
An Khang’s Q1 2026 revenue rose nearly 19% year-on-year. MWG said the chain is optimizing operations at each point of sale and selectively opening new outlets to improve operating efficiency and support profitability.
By the end of March 2026, MWG operated 1,014 TGDĐ stores, 2,006 DMX stores, 2,839 BHX stores, 409 An Khang pharmacies, 95 Avakids stores, and 212 EraBlue stores.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
