Wilcon Depot Inc. expects to spend P3.2 billion for the year, P2.9 billion of which will go to store network expansion.
Rosemary Bosch-Ong, Wilcon chief operating officer, said the company expects to close 2021 with 72 stores compared to 63 in end-2020.
“We plan to open an average of seven to eight stores in the next (few) years (to reach our) target, which is 100 stores in the next five years.Hopefully, we can accelerate, opening all the stores even before the peak years or even before 2025,” she added.
Ong said the company has spent about P600 million for the store expansion,. The expansion capex is 31.82 percent up from last year’s P2.2 billion.
The company meanwhile eyes to match its 2019 sales, a pre-COVID-19 season, this year as operations return to normalcy and new stores contribute to topline.
