ALLHOME Corp. is planning to open a new branch in Isabela in the third quarter as it boosts its presence across the country.
In a statement Tuesday, the Villar-led retailer of home improvement products said it is continuing to work on increasing its store network from 45 stores at present.
“We have a solid pipeline of new stores around the country and have the ability to fast track construction of those stores given our affiliation with the Villar Group’s commercial and residential companies,” AllHome President Benjamarie Therese N. Serrano said in the statement.
The company has set opening a new branch in Santiago, Isabela within the third quarter. This would be the latest addition after the four stores AllHome opened in Gapan, Nueva Ecija; San Ildefonso, Bulacan; Ampayon, Butuan; and Koronadal City, South Cotabato.
Currently, the company’s 45-store network is distributed in Mega Manila (35 stores), other areas in Luzon (5), and Visayas and Mindanao (5). When it did its public offer in October last year, AllHome said its target was to have 70 stores by the end of 2020.
“We are confident with the pipeline of AllHome especially with the easing of community restrictions. AllHome’s strength of being close to residential communities makes it a go-to place during quarantine periods and even after the community quarantine,” AllHome Vice-Chairman Camille A. Villar said in the statement.
The company said it caters not only to homeowners of Villar-led properties, but also interior designers, architects and contractors as its portfolio of products range from construction materials, hardware, tiles and sanitary wares, furniture, appliances, homewares and linens.
“Consumers now deem it important to shop closer to home and in a space that’s not overly crowded for their own safety. Being a home essential provider, AllHome will continue to provide service to those who are fixing their own homes or contractors who have resumed construction activities,” Ms. Villar said.
AllHome’s net income grew 30% to P270.22 million in the first quarter due to putting up additional stores in 2019. These new revenue streams, amounting to 22 new stores to be exact, lifted the company’s topline by 41% to P3.37 billion.
Shares in AllHome at the stock exchange gained 60 centavos or 8.11% to close at P8 each on Tuesday. — Denise A. Valdez
