Allhome sales down 5 per cent in the first quarter

(Source: Archive)

Philippine home improvement retail chain Allhome continued its losing streak in the first quarter of 2024, when its sales fell five per cent. The company, which has seen two years of revenue losses, reported sales of 2.76 bn Philippine pesos (EUR 43.93 mio) for January to March 2024, as they noted that demand for hard categories remained lackluster.  

They also said that same store sales waned 6.3 per cent during the quarter, although this was not as bad as the 12.1 per cent drop it recorded in the first quarter of the previous year. Allhome did not open new branches for the three-month period, after closing 2023 with 72 stores.  

Allhome is owned by Manuel B. Villar, Jr., the Philippines’ richest man. In 2023, the company saw sales dropping four per cent, while in 2022, top line fell 12 per cent. 

The company earlier said it would explore “synergies” with affiliates to boost its business. The Villar group operates companies that are engaged in residential property and mall development, and operates convenience stores under the Allday brand.

 - by Jennee Grace U Rubrico

Back to homepage
Related articles
Read also