CIMB Securities expects 99 Speedmart Holding Bhd’s (99 Holdings) strategy to extend its store operating hours has the potential to boost sales growth in the coming financial year.
Effective July 1, 2025, all 99 Speedmart branches nationwide will operate an hour earlier, from 9am to 10pm, compared to the current hours of 10am to 10pm.
The move is part of an initiative to improve customer experience and cater to consumers’ changing shopping patterns.
CIMB Securities said the extended operating hours will enhance customer convenience and drive sales per store (SSSG) growth of 1.4% per annum from financial year 2025 to 2027.
CIMB Securities also said the development is seen as positive as it is able to support its revenue growth projections and continuously expand its branch network.
The firm also forecast the organisation's net profit to increase 11.9% year-on-year to RM576 million for the 2025 financial year, driven by revenue growth of 8.8%.
By the end of the first quarter of 2025, 99 Holdings now had 2,883 branches, with 80 to 85% of them having unofficially started adopting new operating hours since last year.
