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AllHome posts P4.8-B sales, P276-M profit

AllHome Corporation, the Villar group’s pioneering one-stop shop home store, posted P4.85 billion in sales for the first half of 2020–down by only 4 percent from the same period last year despite the closure of stores during the Enhanced Community Quarantine (ECQ).

The company said it took advantage of its unique retail ecosystem and balanced product category mix to generate sales. Gross margin improved to 31 percent from 29.5 percent for the same period last year.

Operating expenses increased by 32.5 percent due to the effect of the pandemic.  As a result, net income was at P276 million for the first six months of 2020, down 36.5 percent.

“We are pleased with our performance as it remained resilient especially on the level of sales we have generated despite the disruption of our store operations from the effects of the COVID-19 pandemic” said AllHome Chairman Manuel B. Villar, Jr.

AllHome Vice Chairman Camille A. Villar said that, “Given the challenges of the ECQ, AllHome has adapted to the ‘new normal mindset’ and has capitalized on the AllValue retail ecosystem by putting up pop-up essential stores beside the AllDay supermarkets during the height of ECQ.”

It has also embarked on personal shopping services, established its e-commerce platform AllHomeclick.com, instituted stringent sanitation and social distancing protocols in its stores by setting limits on foot traffic inside the store at any one time, and adopted various online and touch-free payments and delivery options.

She added that, Over the course of the ECQ, AllHome launched two Viber Communities for AllHome for end users and one that targeted contractors and other related-industry professionals.

Gathering 7,438 and 1,413 members, respectively, over the ECQ period, these communities pushed product and promotional content, highlighted AllHome’s safety policies, and created awareness for AllHome’s presence on other e-commerce platforms.

AllHome’s balanced product category mix has provided a cushion during this economic instability.  During the second Quarter, appliances contributed almost 40 percent to sales.

While the company saw a continued reduction in sales from construction for the quarter it was offset by the sustained increase in sales in the hardware category. More households took the opportunity to recreate their personal spaces by prioritizing comfort, refurbishing and renovating their homes since they spent most of their time during the ECQ inside the house.


Source: Manila Bulletin (https://mb.com.ph/2020/08/13/allhome-posts-p4-8-b-sales-p276-m-profit/?utm_source=rss&utm_medium=rss&utm_campaign=allhome-posts-p4-8-b-sales-p276-m-profit)

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