Vincom Retail signs QooQoo pact. MBS sees 6.00 percent profit drop for Vincom Retail stock

Published on 10/21/2026 at 12:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Vincom Retail signed a QooQoo partnership on October 20, 2026. MBS forecasts 2026 profit of VND 6,030 billion, down 6.00 percent.

Retail expansion and profit outlook

Vincom Retail signed a partnership memorandum with QooQoo on October 20, 2026, covering nearly 90 restaurants.
MBS forecasts Vincom Retail net profit of VND 6,030 billion for 2026, down 6.00 percent.
Vincom Retail reported first-half 2026 net profit of VND 3,215 billion, up 33.00 percent year over year.

Vincom Retail, VN000000VRE6, Illustration mit AI erstellt.

Vincom Retail signed a strategic partnership memorandum with QooQoo Franchise Group on October 20, 2026, while MBS forecasts a 6.00 percent decline in the company's 2026 net profit. The agreement covers the potential development of QooQoo's premium buffet restaurants across Vincom Retail shopping malls and commercial streets, according to Bao Dau Tu.

QooQoo expands the tenant pipeline

QooQoo Franchise Group operates nearly 90 premium buffet restaurants in South Korea. The memorandum is a study agreement rather than a completed rollout, and the two companies will assess opportunities to bring the restaurant concept to Vincom Retail's network.

The announcement adds a tenant-development angle to Vincom Retail's expansion strategy. The company operates shopping malls and commercial streets in Vietnam, with rental, service and advertising income forming the core of its mall operations.

What does the forecast mean for profit?

According to 24HMoney, an October 2026 MBS investor report projects 2026 net revenue of VND 9,767 billion, up 11.00 percent, but net profit of VND 6,030 billion, down 6.00 percent. For 2027, MBS projects revenue of nearly VND 13,800 billion, up 41.00 percent, and net profit of VND 7,043 billion, up nearly 17.00 percent.

The counterweight is operating momentum in the latest reported period. A report distributed by 24HMoney says first-half 2026 net revenue reached VND 4,667 billion, up 9.00 percent year over year, while net profit reached VND 3,215 billion, up 33.00 percent. The figures represented 49.00 percent of the full-year revenue plan and 60.00 percent of the profit plan.

Three developments shape the outlook

On October 10, 2026, DSC set a VND 36,850 price target and cited first-half profit growth of 33.00 percent, according to 24HMoney. On October 20, 2026, MBS outlined a 2026 profit decline and a 2027 revenue acceleration. The same date brought Vincom Retail's QooQoo memorandum, linking tenant expansion with the longer-term mall strategy.

Vincom Retail's listing profile

Vincom Retail Joint Stock Company was listed on the Ho Chi Minh City Stock Exchange in 2017 under ticker VRE, according to its Vincom Retail annual report. The 2024 report recorded revenue of VND 8,939 billion and profit after tax of VND 4,096 billion, with 88 malls across 48 cities and provinces.

Vincom Retail Joint Stock Company operates the Vincom Center, Vincom Mega Mall, Vincom Plaza and Vincom+ formats. Its 2026 setup combines strong first-half profit growth with an MBS forecast for lower full-year profit, making tenant demand, occupancy and new projects central to the outlook.