Wilcon Depot Inc., a leading home improvement and construction supply retailer, said Monday it expects a “muted” sales growth this year coming from a high base last year as consumers discretional spending shifts to travel.
Wilcon investor relations head Jean Algier said the group’s aggressive store opening this year would also affect the company’s earnings as pre-operating expenses are front-loaded.
“We don’t want to promise that it will be another blockbuster year. Coming from high base in 2022, we are not expecting another spectacular growth. It will be a more muted growth for the topline,” Algier said.
Wilcon is looking beyond short-term fluctuations and continues to focus on expanding its store network, enhancing its product offerings and adapting its formats and merchandising to different markets, Algier said.
Wilcon plans to open 10 stores in 2023 to end the year with 93. The new stores, mostly the big depots, are located in Bulacan, Cavite, Rizal, Iligan City, Batangas, Bukidnon, Dasmarinas, Koronadal and two in Bacolod.