AllHome opens new branch in Cabanatuan, on track to end the year with 49 stores

ABS-CBN News

Posted at Dec 01 2020 02:27 PM

AllHome opens new branch in Cabanatuan, on track to end the year with 49 stores 1
An AllHome storefront. Photo: AllHome Facebook Page

MANILA - Home improvement retailer AllHome Corp said Tuesday it recently opened its 48th store in Cabanatuan City, in line with its aim to cap the year with 49 stores.

“We resumed opening of new stores as soon as we have seen the positive results of the previous months. This is a testament to how fast we can mobilize our store expansion programs which we attribute to our synergies with the Villar group of companies,” said Benjamarie Therese Serrano, AllHome president in a disclosure to the stock exchange.

Located along Mabini Street Extension, AllHome Cabanatuan caters to customers' home needs, from hardware and construction to tiles and sanitary wares, furniture, appliances, linen and homewares.

AllHome said it will open one more branch in Bulacan this month.

Manuel Villar, Jr., AllHome Chairman, said the company is optimistic on prospects for the remainder of the year, noting that Christmas spending is seen to ramp up sales in the fourth quarter after a slowdown in business activity due to the pandemic.

“The third quarter showed promising results. Based on historical sales, we are looking forward to a better fourth quarter with the holiday rush coming in. The AllValue retail eco system has proved to be valuable in the expansion of AllHome. The presence of AllDay Supermarket, Coffee Project and Bake My Day helped to capture the local market,” Villar said.

AllHome's net income for the third quarter increased 2 percent to P312 million driven by bullish earnings, which also surged by 133 percent. The company debuted at the Philippine Stock Exchange in October last year.

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