Wilcon net sales down 3.3 pct in Q3

Wilcon Depot Inc., the Philippines’ top home improvement retailing chain, saw a 3.3 per cent decline in its net sales in the third quarter as weak demand, coupled with the onset of storms and inclement weather, affected turnover.

The company disclosed third-quarter net sales of PHP 8.497 bn Philippine pesos (EUR 137.19 mio) for the period of July to September 2024. "The softness of the demand for major home improvement and finishing construction supply persisted through the third quarter. The incessant rains and bad weather also did not help, which historically tends to postpone or delay construction projects," the company noted in a statement.

Accumulated sales for the nine-month period ending September 2024, meanwhile, slipped one per cent to PHP 25.681 bn (EUR 414.16 mio), as a five per cent increase in sales contributed by new stores was offset by a 5.9 per cent fall in comparative…