AllHome plans to open 2 more stores this year
VILLAR-LED AllHome Corp. is looking to end the year with at least two more new stores as it is encouraged by the resilience of existing stores during the coronavirus-related lockdown.
In a statement on Monday, the home improvement retailer said it looks to raise its store count to 49 before 2020 ends from 47 at present, with interest mostly in provincial locations.
“We are optimistic in the performance of our provincial stores, especially with our most recent opening in Santiago City, Isabela. For the rest of 2020, we have identified at least 2 more stores to open, ending 2020 with 49 stores, at the least,” AllHome President Benjamarie Therese N. Serrano said in the statement.
“We have adjusted the opening schedules, given the construction delays and economic impact of this pandemic. Initially, we planned to delay new store opening to 2021, but with the trend we are seeing, we have decided to open at least 4 new stores this 2020,” she added.
Most of AllHome’s current stores are located in Metro Manila and its nearby regions, accounting for 37 stores from its 47-store network. Five others are located outside of Mega Manila but within the Luzon island, while the other five are distributed in Visayas and Mindanao.
The company builds its stores in locations near residential communities to target home owners that are looking for construction materials, hardware, tiles and sanitary wares, furniture, appliances, homewares and linens. It carries 32 in-house brands and looks to expand its product portfolio further.
“These new AllHome stores will be built closer to residential communities as more and more consumers deem it a priority to lessen movement and shop closer to home,” AllHome Chairman Manuel B. Villar, Jr. said.
AllHome booked a 37% income drop to P275.65 million in the first six months of the year, while its revenues dipped 4% to P4.85 billion.
Its shares at the stock exchange closed at P6.08 each on Monday, down one centavo or 0.16% from the last session. — Denise A. Valdez