MANILA – AllHome, the country’s pioneering one-stop full-line home center, is ramping up expansion as it banks on sustained optimism among consumers in the post-pandemic scenario.
“The country at large has successfully demonstrated and sustained its optimism in the post-pandemic scenario. The return to normalcy –as can be seen in the consistent pandemic alert levels and the brisk increases in footfall to malls and centers of commerce,” AllHome chairman Manny B. Villar Jr. said in a statement to the Philippine Stock Exchange (PSE) on Tuesday.
Villar said the company’s performance still shows marked improvement over pre-pandemic levels despite prevailing circumstances in the country.
“(This) is an increasingly tangible and welcome sign that things are only going to improve for AllHome,” he added. “People are returning to stores and spending more, and we fully intend to capitalize on this sustained optimism.”
Its first half 2022 reported net core profit of PHP525 million tracks 21 percent better than pre-pandemic performance in January to June 2019.
Meanwhile, AllHome president and chief executive officer Benjamin Therese Serrano expressed the chain’s continued determination in implementing its operational strategies towards its 100-store milestone by 2026.
“Despite prevailing circumstances, our confidence in our capability to implement AllHome’s expansion strategy remains undeterred. To date, AllHome has already added five new locations in the first half of 2022 alone, with the highlight being our newest large format store in Davao,” she said.
Serrano said basket sizes in AllHome stores are up 5 percent versus the same period last year –an indicator that customers continue to be confident in their spending.
A notable trend observed by regional think tank Euromonitor during the pandemic was the migration from urban city centers to the countryside, with consumers –including the upper class– seeking space further from identified centers of activity, shifting their sights on rest houses and holiday homes away from the city. (PR)
