Premium segment supermarket player AllDay Supermarket, a subsidiary of AllValue Holdings of billionaire Manuel B. Villar Jr., reported a 10.2 percent hike in net income to P97 million in the first quarter of 2024 from P88 million in the same period last year.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said revenues grew by 1.1 percent to P2.47 billion in the first quarter of 2024 from the P2.44 billion registered in the same period last year.
The chain reported increases in gross profit for P514 million in the first three months this year versus P508 million in the comparative period of 2023 while EBITDA rose 5.6 percent to P246 million.
AllDay President and CEO Frances Rosalie T. Coloma credits AllDay’s stable performance against a challenging quarter punctuated by decreased household spending and elevated prices to the continuous improvement of its range, leveraging international selections, and its recent opening of four new minimart locations.
“AllDay’s stable position through the first quarter can be credited to continuing gains from our importation and, in part, through our new minimarts. We established a foothold in the communities of Camella East and Ponticelli in Bacoor, Maia Alta in Antipolo, and along Governor’s Drive in Dasmarinas, and look forward to building on the elevated supermarket experience we have long bannered across the chain,” she added.
AllDay 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 AllDay Chairman Manuel B. Villar Jr.
He noted that “with a market still clearly hungry for experiences in the country’s full return to normalcy, our supermarket concept is still well-received.”
Over the course of 2023, AllDay bolstered its hold on a premium supermarket experience through its marked improvements in importation.
Coloma credits the supermarket chain’s sustained performance to AllDay leveraging its closeness to community.
“Aside from our gains in importation, AllDay’s sustained positive performance can be credited to our leveraging our 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.