Wilcon Depot Inc., a leading home improvement and construction supply retailer, is on track to meet its target of having 100 stores by 2025, a top executive said Monday.
Wilcon president Lorraine Belo-Cincochan said the company aimed to open eight new stores this year to end 2021 with 81 branches nationwide.
“We are well on our way to reach our 100 stores by 2025 target. We opened an unprecedented 10 stores in 2021, nine depots and one smaller format, Home Essentials. We have completely deployed our IPO funds in the first quarter of 2021 but have kept the company bank debt-free,” Belo-Cincochan said.
Belo-Cincochan said the company remained focused on growth strategies despite the challenges brought about by the pandemic and increased competition. She said the company was also devising plans to further improve its margins through product mix strategies and by constantly reviewing pricing strategy.
Wilcon chief operating officer Rosemarie Ong said the outlook for 2022 remained positive as construction activities significantly improved on the easing of quarantine restrictions.