MANILA – AllHome Corp., a pioneering one-stop shop home store in the Philippines, posted PHP4.85 billion in sales for the first half of 2020, down slightly by 4 percent from the same period last year despite the closure of stores during the enhanced community quarantine (ECQ).
In a statement Thursday, the company said its net income, however, declined by 36.5 percent to PHP276 million in the January to June period, as operating expenses rose by 32.5 percent due to the effect of the pandemic.
AllHome chairman Manuel Villar Jr. said “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 (coronavirus disease 2019) pandemic”.
AllHome vice chairman Camille Villar said they adapted to the ‘new normal mindset’ and have capitalized on the AllValue retail ecosystem by putting up pop-up essential stores beside the AllDay supermarkets during the height of ECQ.
“It has also embarked on personal shopping services, established its e-commerce platform AllHomeclick.com, instituted stringent sanitation and social distancing protocols in our stores by setting limits on foot traffic inside the store at any one time, and adopted various online and touch-free payments and delivery options,” she said.
During the second quarter, appliances contributed almost 40 percent to sales.
While the company saw a continued reduction in sales from construction for the quarter, it was offset by the sustained increase in sales in the hardware category.
More households took the opportunity to recreate their personal spaces by prioritizing comfort, refurbishing and renovating their homes since they spent most of their time during the ECQ inside the house.
The company doubled its store network from 23 in 2018 to 45 stores to date, a testament to the Villar Group’s proven capability to fast-track the construction and opening of stores.
It still views 2020 with optimism and when the situation improves, has the capability to fast track construction and fit-out of new stores as it sees relevant. (PR)
