Former Senator Manuel Villar Jr. said his group will resume expansion of its AllHome and AllDay retail chains by next year as the group tweaked its approach for the home improvement and supermarket retail businesses.
“We started our expansion with big store formats but we are now discovering that smaller store formats can also work in some areas,” Villar said.
“By next year, we will resume our expansion,” he added.
Listed AllDay Marts Inc., is the Villar group’s vehicle for the supermarket retail chain AllDay Supermarket, while AllHome Corp. is a separately-listed entity.
With consumers returning to brick-and-mortar stores to shop for their grocery needs, AllDay Supermarket reported a profit of P172 million in the first half of this year, up 133 percent from P12 million last year.
Revenues grew 6.6 percent to P4.90 billion for the first half of 2023.
AllHome reported a 99.1 -percent increase in first half profit to P442 million on the back of a 3-percent uptick in revenues to P3.12 billion in the second quarter of 2023.
“We are pleased with AllDay’s steady business results for the first half of 2023,” said Villar.
“With the return of customers to in-person retail or revenge retail giving rise to many opportunities, our supermarket concept continues to capitalize on a market that is getting a lot more comfortable with spending time shopping in-store again,” he added.
“As we head into the historically strong quarters of AllHome and a positive 2024 outlook that sees a rise in condominium turnovers–which means entry into the furnishing stage–we view the balance year of 2023 with much confidence and optimism,” Villar said. – Ruelle Castro
