Wilcon Depot expects strong sales growth

WILCON DEPOT, Inc. is banking on improved consumption as the listed home improvement and construction supplies retailer expects a positive financial performance this year.

“Our outlook is always positive. We have nowhere to go but really grow. Of course, we don’t have control over the external factors, but we see some improvements in all the headwinds that have been happening in the past year,” Wilcon Chief Operating Officer Rosemarie B. Ong told reporters on the sidelines of an event in Taguig City last week.

“Hopefully, 2025 will be a better year for us. Once consumption improves, that will stimulate everything,” she added.

Ms. Ong said Wilcon is looking to open more stores this year, without disclosing specific figures.

The company operates two store formats, consisting of the traditional depots and the smaller Do-It-Wilcon stores.

“We will still continue to expand because we see a lot of opportunities in other areas where we are not present,” she said.

In December last year, Wilcon opened its 100th store, located in Lubao, Pampanga. The company reached the milestone a full year ahead of the company’s 2025 target.

Ms. Ong said Wilcon is also renovating its legacy stores to improve the customer shopping experience.

“What we’re doing now is we’re trying to improve the legacy stores. Our focus is really to renovate and to be more adaptive to consumer behavior, how we can make their shopping experience more seamless, more convenient, and more comfortable,” she said.

For the first nine months of 2024, Wilcon recorded a 22.3% decrease in net income to P2.12 billion as net sales shrank by 1% to P25.68 billion.

The company attributed the decline to the persistent softness of demand for major home improvement and finishing construction supplies as well as delayed construction projects due to bad weather.

It added that expansion-related expenses hampered the company’s net income.

Wilcon shares were last traded on Jan. 17 at P9.89 per share. — Revin Mikhael D. Ochave

Wilcon Depot expects strong sales growth
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