Aug 14, 2020
AllHome Corporation, the Villar group’s pioneering one-stop shop home store, posted ₱4.85 billion in sales for the first half of 2020 – down by only 4 percent from the same period last year despite the closure of stores during the Enhanced Community Quarantine (ECQ).
The company said it took advantage of its unique retail ecosystem and balanced product category mix to generate sales. Gross margin improved to 31 percent from 29.5 percent for the same period last year.
Operating expenses increased by 32.5 percent due to the effect of the pandemic. As a result, net income was at ₱276 million for the first six months of 2020, down 36.5 percent.
“We are pleased with our performance as it remained resilient especially on the level of sales we have generated despite the disruption of our store operations from the effects of the COVID-19 pandemic” said AllHome Chairman Manuel B. Villar Jr.
AllHome Vice Chairman Camille A. Villar said that, “Given the challenges of the ECQ, AllHome has adapted to the ‘new normal mindset’ and has capitalized on the AllValue retail ecosystem by putting up pop-up essential stores beside the AllDay supermarkets during the height of ECQ.” (James A. Loyola)
Read more: https://www.pressreader.com/philippines/manila-bulletin/20200814/282033329554666
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