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Philippine home improvement retail chain AllHome posted a 39-per cent rise in sales in the first half of the year as shortened store hours brought back some revenues that were lost in the same period last year, when Covid-19 restrictions completely closed down brick and mortar operations.
The company disclosed that sales hit 6.72 bn Philippine pesos (PHP, EUR 113.8 mio) in January to June 2021, buoyed by a 30.4 per cent increase in same store sales from an 8.2 per cent contraction and the contribution of ten new outlets.
"The lockdown this year allowed all company stores to continue operation although at shortened hours due to curfew restrictions," AllHome noted in its unaudited financial statement for the period. In contrast, all home improvement stores in the Philippine capital region of Metro Manila and neighboring areas were ordered closed from 17 March to 15 May 2020. The low-base effect is more pronounced in the second quarter, when AllHome's sales more than doubled to PHP 3.13 bn (EUR 52.8 mio) from PHP 1.48 bn (EUR 25.0 mio).
AllHome revealed plans to build more large-format stores. Large outlets currently account for 39 of the company's 55 outlets and 97 per cent of its retail sales. AllHome's large mall-based outlets have an average net selling space of 9 100 m², while freestanding outlets average 10 100 m².
"These large stores generate the lion's share of our sales," Benjamarie Therese Serrano, president of AllHome, was quoted in a press statement.
The company disclosed that sales hit 6.72 bn Philippine pesos (PHP, EUR 113.8 mio) in January to June 2021, buoyed by a 30.4 per cent increase in same store sales from an 8.2 per cent contraction and the contribution of ten new outlets.
"The lockdown this year allowed all company stores to continue operation although at shortened hours due to curfew restrictions," AllHome noted in its unaudited financial statement for the period. In contrast, all home improvement stores in the Philippine capital region of Metro Manila and neighboring areas were ordered closed from 17 March to 15 May 2020. The low-base effect is more pronounced in the second quarter, when AllHome's sales more than doubled to PHP 3.13 bn (EUR 52.8 mio) from PHP 1.48 bn (EUR 25.0 mio).
AllHome revealed plans to build more large-format stores. Large outlets currently account for 39 of the company's 55 outlets and 97 per cent of its retail sales. AllHome's large mall-based outlets have an average net selling space of 9 100 m², while freestanding outlets average 10 100 m².
"These large stores generate the lion's share of our sales," Benjamarie Therese Serrano, president of AllHome, was quoted in a press statement.
