VILLAR-LED AllHome Corp. is looking at improved sales in the fourth quarter as it continues its store expansion in the Luzon region.
The home improvement retailer said in a statement over the weekend that it recently opened a new store in Cabanatuan City to mark the 48th store in its portfolio.
It is also planning to open one more store in Bulacan before the year ends, which will leave it with a total of 49 stores heading into 2021.
“We resumed opening of new stores as soon as we have seen the positive results of the previous months. This is a testament to how fast we can mobilize our store expansion programs, which we attribute to our synergies with the Villar group of companies,” AllHome President Benjamarie Therese N. Serrano said.
AllHome Cabanatuan is seen to target not only customers from the city, but also from Pampanga, Bulacan, Tarlac and Aurora. Other Villar-owned stores are also in the area, such as AllDay Supermarket, Coffee Project coffee shop, and Bake My Day bakery.
“The AllValue retail eco system has proved to be valuable in the expansion of AllHome. The presence of AllDay Supermarket, Coffee Project, and Bake My Day helped to capture the local market,” AllHome Chairman Manuel B. Villar, Jr. said in the statement.
“The third quarter showed promising results. Based on historical sales, we are looking forward to a better fourth quarter with the holiday rush coming in,” he added.
In the July to September period, the company booked an attributable net income of P312 million, flat from a year ago but 6,140% higher than the previous quarter’s P5 million.
As lockdown rules were eased, AllHome recorded sales of P3.47 billion in the third quarter, up by 11% from last year.
But for the nine-month period, its attributable net income fell 21% to P588 million due to dampened sales when its stores were closed during the strict lockdown in the first half.
“Being a home essential provider, AllHome will continue to provide service to those who are fixing their own homes or contractors who have resumed construction activities,” AllHome Vice-Chairman Camille A. Villar said in the statement.
Shares in AllHome at the stock exchange closed at P8.52 each on Friday, up 43 centavos or 5.32% from the previous session. — Denise A. Valdez