Wilcon Depot Inc. eyes to put up two more stores before the end of the year despite the challenges posted by the coronavirus disease 2019.
Lorraine Belo-Cincochan, Wilcon president, said this will bring the company’s store network to 63.
“We actually opened last Friday in Cabuyao, Laguna. And we still plan to open two more so 61 plus two more by the end of this year, we will have 63 this year,” said Belo-Cincochan.
Come next year, Wilcon will double-time in putting up in more to make up for the slack this year, when the company was originally looking to be in 65 locations, according to her.
Rosemarie Ong, Wilcon chief operating officer, said Wilcon normally has 8 to 10 sites in various stages of construction.
With the planned opening for the year, Wilcon will close the year with 520,000 square meters of selling space.
Wilcon is optimistic of its prospects for the second half of the year year following a challenging first half where profit was down 64.6 percent over a 23.2 percent drop in sales.
Ong said all of Wilcon’s stores are now online with sales “encouraging” after the more than a month of hard community lockdown starting in mid-March.
Ong said Wilcon is currently seeing “improvement in foot traffic and sales,” which the company expects to further improve in its September figures.
“We can see some good numbers for the third quarter,” she said.
Wilcon reported P352 million in profit in the first half of the year, down 64.6 percent from P995 million last year.
Sales was at P9.04 billion, down 23.2 percent from P11.78 billion last year.