Wilcon net sales inch up in Q2

Wilcon Depot Inc., the Philippines’ top home improvement retail chain, saw net sales barely rising as the company continues to be confronted with slow business in stores that are over a year old. Wilcon disclosed to the Philippine Stock Exchange that net sales for the period of April to June 2024 inched up 2.9 per cent to PHP 8.873 bn (Philippine pesos, EUR 141.178 mio) compared to the same quarter in 2023. "Comparable sales were still down two per cent year-on-year but an improvement over the 7.3 per cent decline in the first quarter," the company noted. It opened two new depots during the period.

For the first half of 2024, net sales remained practically stagnant at PHP 17.184 bn, despite the opening of five new stores (including the two during the second quarter) during the six-month period, bringing its total store count to 95. "Sales from new stores [were] offset by the decline in…