Wilcon sales slip in 2024

Wilcon Depot Inc., the Philippines’ top home improvement retailer, saw slower sales in 2024 as shoppers tightened budgets for residential renovations and refurbishments. The company disclosed net sales of 34.172 bn Philippine pesos (PHP, EUR 529.83 mio), a 1.2 per cent dip from 2023. Same store sales contracted 6.2 per cent during the period.

Of the total sales, depots accounted for 96.1 per cent, or PHP 32.829 bn. This was down 1.5 per cent compared to last year. Comparable sales for the format were also 5.8 per cent lower, the company said. The smaller Do It Wilcon (DIW) format, meanwhile, accounted for PHP 996 mio, or 2.9 per cent of total sales. This grew 34.4 per cent on the back of two additional stores that went on stream during the year. Comparable sales for the format, however, decreased 3.5 per cent, "attributable mainly to the lower sales from the older, formerly Home…