By DIY International
Wilcon Depot, the Philippines’ top home improvement retail chain, reported a 7.6 per cent rise in sales in the first half of the year, thanks to the contribution of new stores. The company disclosed to the Philippine Stock Exchange net sales of 17.152 bn Philippine pesos (PHP, EUR 284.10 mio) for the six-month period ending June 2023, even as it revealed that sales in stores older than one year were stagnant, although this was attributed to Wilcon having come off a high base in the same period last year.
By format, Wilcon’s depots contributed the bulk of the sales at 97 per cent, while the smaller Home Essentials contributed two per cent.
For the second quarter, Wilcon posted sales of PHP 8.624 bn, up 4 per cent. Comparable store sales for the period fell by 3.4 per cent, while comparable transactions fell by 7.4 per cent, indicating a lower footfall in mature stores. Comparable ticket size, however, rose by a slight 4.4 per cent for the quarter.
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