Home improvement and furniture retailer AllHome Corp. expects sales to grow in the coming months through new shopping channels and through ties with its sister property company.
In a statement on Monday, the company said it has a captive market through homeowners and homebuilders of Vista Land & Lifescapes, Inc., which is part of the Villar Group.
Vista Land has about 500,000 homes in its portfolio, spread across nearly 150 cities and municipalities, which gives AllHome access to buyers seeking to improve their houses during a coronavirus lockdown.
“Our retail businesses are hinged on our knowledge and deep understanding of the growing families we have living in our communities,” AllHome and Vista Land Chairman Manuel B. Villar, Jr. said in the statement. “This gives us a unique perspective when deciding what to offer and how to sell to our customers.”
AllHome sales fell by 4% to P4.85 billion in the first half from a year earlier as its stores remained shut after the government locked down the entire Luzon island in mid-March to contain a coronavirus pandemic.
The company said it was satisfied with its performance because it remained resilient during the health crisis. Among its initiatives were opening an e-commerce platform and using its ties with Vista Land.
AllHome also benefits from the 3,000-hectare land bank of Vista Land as it expands its retail stores. The company earlier said it was ready to fast-track the construction of new stores when the opportunity opens up.
“With all branches situated close to residential developments, AllHome becomes a natural and preferred option for homeowners because of ease of access, especially during the current pandemic,” it said.
AllHome earnings fell by 37% to P275.65 million in the first half from a year earlier due to reduced sales from its construction segment.
It shares closed 0.98% or six centavos higher at P6.20 apiece on Friday. Trading was closed on Monday, a holiday. — Denise A. Valdez|BusinessWorld
Source: Peso Economics
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