Easing of tough curbs allows Allday to hike Q1 core profit

Allday Marts Inc., the operator of the Villar-led allday supermarket chain, said its core profit for the first quarter grew 33 percent to P95 million from last year’s P71 million on strong sales.

In its disclosure, the company said its revenues grew 7 percent to P2.29 billion from last year’s P2.13 billion.

“Allday’s business results in the opening quarter of 2022 is a display of our strong operating fundamentals across the chain,” Manuel b. Villar Jr., the company’s chairman, said. “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 the first quarter. It is a strong start to 2022, and we are confident in navigating the country’s continued recovery from the pandemic.”

Camille A. Villar, Allday vice chairman, said she expects the company’s in-store and e-commerce journeys will translate to even more customers discovering and patronizing the chain, which it intends to expand to 100 stores by 2026.

“Allday’s maiden quarter after our IPO [initial public offering] 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. We are confident that the continuous fine-tuning of Allday’s experience.”

She said Allday’s “comprehensive international selection and initiatives” including value-based pricing strategy, improved sourcing and a recently launched private label all performed to the company’s expectations, contributing to the chain’s gross profit margin improving to 20.4 percent.

For the first quarter, the company opened its Worldwide Corporate Center in Mandaluyong, a new location in Metro Manila. For the balance year, Allday’s expansion will prioritize Metro Manila and tier one cities across the country.