Removal of restrictions, resumption of construction buoy Wilcon's sales

Wilcon Depot, the Philippines' top home improvement retailer, posted a 32.6 per cent rise in net sales in the third quarter after Covid-19 protocols were further eased in the country. The company reported sales of 8.78 bn Philippine pesos (PHP, EUR 150.2 mio) on the back of a 23.5 per cent growth in same store sales and stronger demand from private construction as the country signals a return to normalcy.

The Philippines has been lifting pandemic restrictions since early this year. In August, classroom learning was partially reintegrated into the educational system. Meanwhile, as of September, mask wearing is no longer required in outdoor settings. “This is the re-opening scenario that we hoped to happen last year but was stymied by the Delta variant surge,” Wilcon President and CEO Lorraine Belo-Cincochan said.

For January to September 2022, Wilcon's net sales grew 23.3 per cent to PHP24.7 bn while same store sales, which accounted for 66.7 per cent of the take, expanded 15.7 per cent.

In terms of formats, depots, Wilcon's big box stores, contributed 97.3 per cent of the sales while the smaller Home Essentials outlets made up 1.9 per cent.

Wilcon opened six depots and one Home Essentials outlet over the last nine months to bring its total store network to 80. It plans to open one more before the end of the year.