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AllHome Corp., led by VILLAR, generated a net income of P399.6 million for the fourth quarter of 2020, growing 28% from its third quarter income of P312.5 million.
“The improvement in sales and net income was due to the opening up of the Philippine economy and the easing of quarantine restrictions in the third and fourth quarters that offset the loss of income in the second quarter,” the company said in a release. on Saturday.
Revenues increased 18% to P4.1 billion in the last quarter of the year from P3.5 billion in the third quarter. No year-on-year comparative figures were released.
For 2020, AllHome’s net revenue decreased by five percent to P1 billion from P1.05 billion. Net sales increased by nearly three percent to P12.4 billion from P12.06 billion, despite the pandemic.
“The year 2020 has demonstrated the strength and ability of AllHome to respond quickly to the health and shopping challenges of the pandemic and capitalize on the AllValue retail ecosystem by placing pop-up stores for essential products alongside its affiliate AllDay Supermercado during the First days [the enhanced community quarantine]”Said Camille A. Villar, Vice President of AllHome.
AllHome began offering cashless payment options at its physical stores. The company also launched the allhome.com.ph e-commerce platform, featured a Viber community, and provided a personal shopper service.
“Our digital presence complements our physical stores as we use them for our fulfillment,” added Ms. Camille A. Villar.
AllHome said it maxed out its seven product categories to drive sales, while its soft categories offset the drop in hard category sales.
“The balanced mix of seven product categories and diversified portfolio of brands allowed AllHome to mitigate the slowdown in construction-related sales. Soft categories contributed 62% of total revenue in 2020 with appliances as the main contributor with 31% of total revenue, ”the company said without disclosing specific figures.
The appliance category expanded through a new concept called AllDigital, which focuses on offering products for work from home, distance learning and online games.
“Driven by the reopening of the economy and the sustained improvement in our sales since the third quarter of 2020, we resumed our expansion program,” said AllHome President Manuel B. Villar, Jr.
The company added that its strategies “have proven effective during this time,” citing a balanced mix of categories and bringing stores closer to residential communities.
“We changed our conservative stance in terms of our store expansion program last year after seeing a much better number of sales in the third quarter that held up for the remainder of 2020,” said AllHome President Benjamarie Therese. Highlander.
AllHome closed the year with 50 out of 45 stores in 2019. The additional five stores were opened from September to December 2020. Meanwhile, two more stores were launched in January and February 2021.
“Our collaboration with Grupo Villar is the reason why we can open several stores in a short time. Those synergies with the Group include most importantly the store location and fast-track construction capacity, as well as the captive customer base, ”added Ms. Serrano.
“We are cautiously optimistic about the home improvement industry for 2021,” said Manuel B. Villar.
AllHome shares on the stock market rose 0.25% or P0.02 on Friday to close at P7.90 each. – Keren Concepcion G. Valmonte
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