Villar's AllDay, AllHome post robust income

AllDay Supermarket and AllHome Corporation, the publicly-listed retail units of AllValue Holdings owned by richest Filipino Manuel B. Villar Jr., reported strong profits for 2023, according to a report by Manila Bulletin.

In a disclosure to the Philippine Stock Exchange, AllDay Supermarket (ALLDY), a leading player in the Philippines’ mid-premium supermarket segment, reported a 22.4 percent growth in net income to P369 million last year from the 302 million earned in 2022.

The firm reported P10.19 billion in revenue at the close of 2023, 4.4 percent higher than 2022’s P9.76 billion. 

“AllDay was successful in growing its business in 2023 and has taken clear strides to elevate the supermarket experience for the Filipino. We believe our performance reflects this in 2023,” said Manuel B. Villar Jr., chairman of AllDay. 

With a market still clearly hungry for experiences in the country’s full return to normalcy, Villar said that its "supermarket concept is still well-received.” 

AllDay also saw increases in its gross profit, to P2.06 billion versus 2022’s P2.0 billion, and EBITDA which grew by 10.3 percent to P995 million. 

Over the course of 2023, AllDay bolstered its hold on a premium supermarket experience through marked improvements in imported products.  

“Aside from our constant thrust to innovate on AllDay’s in-store experience, we take heed of our market’s preference for experiences and flavors they experience abroad,” said AllDay Vice Chairman Camille Villar.

She added that, “I am confident in saying AllDay’s range offering carries a much stronger imported selection, which strengthens our overall elevated supermarket experience.”

AllDay Supermarket’s President and CEO Frances Rosalie T. Coloma credits the supermarket chain’s sustained performance to AllDay leveraging its closeness to its host communities.

Aside from our gains in importation, Coloma said that AllDay’s sustained positive performance can be credited to its strategic locations. "We are closer to established communities, and we have made strides in taking further advantage of this by opening four new minimart locations: Camella East and Ponticelli in Bacoor, Maia Alta in Antipolo, and along Governor’s Drive in Dasmarinas,” she said.

Coloma noted that these serve as community pantries that carry the elevated supermarket DNA of AllDay’s larger format stores.

Meanwhile, AllHome, the Philippines’ pioneering one-stop full line home center, reported a net profit of P797 million last year from P12.06 billion in net revenue.

The home retail chain also reported increases in gross profit margins—38 percent in 2023 from 36.8 percent in 2022, an increase of 120 basis points. 

AllHome President and CEO Benjamarie Therese Serrano said AllHome’s continues to implement operational efficiencies going forward.

“Though current consumer spending has been diverted from home retail to less essential expenses like fashion, health and beauty, entertainment, and travel, AllHome remains committed in delivering value to our stakeholders. 

“We have steadily increased our margins, both in gross and net terms, ending 2023 with a gross margin of 38 percent. We also continue to seek out operational efficiencies, especially as we face unusually high inflation and increased utilities costs,” she said.

Serrano remained upbeat about AllHome’s way forward. Citing Euromonitor’s 2023 report on the Philippines’ home retail sector, the country is predicted to enjoy a compounded annual growth rate of 6.2 percent for the period of 2024 to 2028.

She said that the long-term fundamentals of the home retail sector in the Philippines remain sound. With that, AllHome aims to firmly establish itself as a premium home retailer that enjoys the unique synergy of self-sustaining retail ecosystems. 

This is in synergies with Vista Land, the country’s largest home builder, as well as with its sister companies under the AllValue umbrella, Serrano said.