AllDay Supermarket, owned by listed AllDay Marts Inc. of the Villar retail group, reported a 33 percent jump in net profit to P95 million in the first quarter of 2022 from P71 million in the same period last year.
In a disclosure to the Philippine Stock Exchange, the chain said it recorded a 7.4 percent increase in revenue to P2.29 billion in the first three months of the year from P2.14 billion in the same period of 2021.
“AllDay’s business results in the opening quarter of 2022 is a display of our strong operating fundamentals across the chain,” said AllDay Chairman Manuel B. Villar Jr.
He added that, “More than our established affinity with a customer base hungry for better retail experiences, this quarter showed that AllDay can capably navigate extraordinary circumstances, such as the Omicron surge early in the quarter—from January to mid-February of this year.”
“We immediately capitalized on the footfall improvement brought about by the downgrading of the pandemic restrictions to Alert Level 1, to which we attribute our satisfactory performance for Q12022. It is a strong start to 2022, and we are confident in navigating the country’s continued recovery from the pandemic,” Villar noted.
The chain also reported improvements in gross profit, turning in P467 million versus P424 million for the same period last year, a 10.2 percent increase.
“AllDay’s maiden quarter after our IPO last December validates our implementation of our blueprint: an innovative and elevated in-store and online experience at par with the best in the world,” said AllDay Vice Chairman Camille A. Villar.
She noted that, “We are confident that the continuous fine-tuning of AllDay’s in-store and e-commerce journeys will translate to even more customers discovering and patronizing the unique AllDay experience.”
Ms. Villar added that AllDay’s comprehensive international selection and initiatives including value-based pricing strategy, improved sourcing and a recently launched private label all performed to AllDay’s expectations, contributing to the chain’s gross profit margin improving to 20.4 percent.
AllDay Supermarket’s Chief Executive Officer Frances Rosalie T. Coloma views the coming quarters with optimism.
“We believe that our first quarter 2022 performance is a strong start for the fiscal year, especially as we navigate the country’s recovery from the effects of nearly two years of pandemic restrictions,” she said.
Coloma added that “The first quarter saw us open AllDay Worldwide Corporate Center in Mandaluyong, a new NCR location. For the balance year, AllDay’s expansion will prioritize NCR and Tier 1 cities across the country as we grow the network to our 100 store milestone by 2026.”