Connect with us

Hi, what are you looking for?

News

AllHome sees improved sales as it adds stores

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

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Latest

News

Infrastructure spending dropped for the fifth straight month in November amid the pandemic. — PHILIPPINE STAR/MICHAEL VARCAS By Beatrice M. Laforga, Reporter STATE SPENDING...

News

By Charmaine A. Tadalan, Reporter THE BICAMERAL Conference Committee on Tuesday approved the bill strengthening the anti-money laundering law, although a key amendment pushed...

News

The Health department on Tuesday reported 1,357 new coronavirus disease 2019 infections, bringing the total to 504,084. — PHILIPPINE STAR/MICHAEL VARCAS THE HOUSE Committee...

News

PLDT, Inc. said its fixed broadband download speeds have improved by 78% in 2020 after expansions and upgrades amid a pandemic crisis. Its wireless...

News

LISTED port operator International Container Terminal Services, Inc. (ICTSI) on Tuesday said it had completed a berth expansion project at the Manila International Container...

News

CEMEX Holdings Philippines, Inc. has positioned its large heating device as it builds the cement production line that would add 1.5 million metric tons...

You May Also Like

When people envision technology overtaking society, many think of The Terminator and bulletproof robots. Or Big Brother in George Orwell’s Nineteen Eighty-Four, a symbol...

Financial Advisors

Stock Markets9 hours ago (Jul 02, 2020 04:45AM ET) (C) Reuters. ROME (Reuters) – World food prices rose in June to post their first...

Economy

SAN FRANCISCO — The spread of the coronavirus has meant feast or famine for technology start-ups. While many are cutting staff and slashing costs...

Economy

In Wisconsin and Ohio, farmers are dumping thousands of gallons of fresh milk into lagoons and manure pits. An Idaho farmer has dug huge...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Respect Investment. All Rights Reserved.