Construction retail company sees turnaround signs after Q2 performance

Wilcon Depot, Inc., a major player in the Philippine home improvement retail sector, reported a slower decline in earnings for the second quarter of 2025, raising expectations for a turnaround in the second half of the year.

In a disclosure to the Philippine Stock Exchange, the company said net income for the second quarter dropped 18.7 percent year-on-year to %u20B1636 million—an improvement from the steeper 27-percent drop in the first quarter. First-half profit stood at %u20B11.16 billion, down 23 percent from last year.

Wilcon Depot President and CEO Lorraine Belo-Cincochan expressed optimism that recent improvements in sales and operational adjustments would support a stronger performance in the latter half of the year.

“We are already seeing an upward trend in our sales and our same-store sales growth turned positive in June,” Belo-Cincochan said. “We’ve also implemented cost-efficiency measures that are starting to show results.”

Net sales for the first half reached %u20B117.11 billion, down slightly by 0.4 percent year-on-year, mainly due to seasonal slowdowns during the April holidays and the May 2025 midterm elections.

The company has opened three new stores this year and reopened its Baliwag, Bulacan branch that was previously damaged by fire. Its smaller format, Do-It-Wilcon, posted a 10.8 percent increase in sales, supported by healthy same-store growth.

Executives say ongoing efforts to improve store efficiency and enhance product mix could help reverse the profit decline by year-end, especially as consumer demand begins to stabilize.