AllHome Corp. and AllDay Marts Inc., two retail units of the Villar Group, delivered strong profits in the first nine months despite the re-implementation of quarantine lockdowns in the third quarter.
AllHome, a leading home store chain, reported a 65-percent increase in nine-month net income to P973 million, as net sales jumped 22 percent to P10.12 billion.
The company said third-quarter net income rose 12 percent from the previous quarter’s level while net sales climbed 9 percent to P3.4 billion.
AllHome stores remained opened despite the mobility restrictions implemented in August and September.
“AllHome’s inherent innovative nature fueled its ability to quickly adapt to the COVID-19 pandemic. Our team continuously evaluates our strategies and implement operational efficiency initiatives to maximize earning potential and minimize costs,” said AllHome chairman Manuel Villar.
The company also implemented various programs such as strategic pricing and increased in-house brand sales contribution to improve margins.
It also executed operational efficiency initiatives in view of changing customer shopping behavior. This resulted in the optimization of store capacity and the re-purposing of portions of store space as additional store warehousing and fulfillment/logistics areas to allow for service efficiencies for e-commerce fulfillment.
AllMarts Inc., the supermarket chain of the Villar family, reported a net income of P265 million in the first nine months, up from P165 million posted in the same period last year.
Nine-month sales rose 22 percent to P6.9 billion from P5.6 billion in 2020.
“AllDay’s stellar performance to date continues to validate our concept of an elevated supermarket experience. This consistent growth shows that the AllDay experience”•in-store and online”•continues to resonate with the upgraded tastes and purchasing power of the Filipino consumer,” Villar said.
Same-store sales in the first nine months registered 3-percent growth, bucking a downward trend across the industry.
Online sales accounted for 3.8 percent of total nine-month sales and 5.7 percent in the third quarter.
AllDay, which debuted on the Philippine Stock Exchange early this month, opened 33 stores.