VILLAR-LED AllHome Corp. said it saw an increase in store footfall after the government lowered Metro Manila’s pandemic alert level to the most relaxed mobility restriction in March.
“As we anticipate the post-pandemic scenario, we are pleased that mall traffic is returning to pre-pandemic levels. We even see some days exceeding the pre-pandemic foot traffic. This bodes well for AllHome stores, especially our locations that serve as retail anchors to our Vista Malls as conditions normalize,” AllHome Chairman Manuel B. Villar, Jr. said in a disclosure on Thursday.
The eased alert level has given rise to more people returning to malls and other retail establishments, an indicator of the country’s gradual return to normalcy, Mr. Villar added.
“AllHome has shown resilience in capably weathering the challenges of the pandemic, in even the most stringent lockdowns. We are even more confident now as we prepare for the country’s gradual return to normalcy,” AllValue Holdings Presi-dent Camille A. Villar said.
Benjamarie Therese N. Serrano, AllHome president and chief executive officer, said “revenge shopping” had gained traction as consumers gain greater mobility.
“We believe that the trend of revenge shopping will benefit AllHome as a market hungry for experiences, after a prolonged period of various lockdowns, will again rediscover the distinct customer journeys and elevated experi-ences that are present in every AllHome location,” Ms. Serrano said.
The AllHome officials said they are confident that “the opening up of the economy will pave the way for heightened construction activities in the upcoming summer months.”
“We look at 2022 with more positivity as the vaccination rate in the country increases and the restrictions ease up, furthermore propelling the reopening of the economy,” Ms. Serrano said.
“Backed by our resilient performance throughout the two-year period of the pandemic, we look to the future with more optimism and vigor as we reap the positive impact of our team’s hard work and dedication to improve efficiencies and expand profitability,” she added.
AllHome offers a line of products for home improvement and construction, including for maintenance, repairs and renovations, and decorating. Its first store was launched in 2013 in Pampanga. Its product categories include furniture, hardware, appliances, tiles and sanitary wares, homewares, linens, and construction materials.
In the third quarter of 2021, the company’s attributable net income grew by 6.14% to P331.7 million.
From January to September, attributable net income was up 65.4% to P972.6 million from P588.1 million in 2020.
AllHome shares dropped by 0.67% or P0.05 to close at P7.40 apiece on Thursday. — Luisa Maria Jacinta C. Jocson