Add to cart translates to cash for Villars as AllHome’s income climbs to P344M in Q1 | Bilyonaryo Business News
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Add to cart translates to cash for Villars as AllHome’s income climbs to P344M in Q1

The net income of bilyonaryo Manny Villar’s AllHome rose 26 percent in the first quarter of 2021 to P344.2 million on the back of a surge in online orders and the opening of more stores.

The listed chain of home furniture and fixtures said first quarter revenues reached P3.6 billion, up 6.7 percent year-on-year. Gross profit margin reached 31.9%, better than last year’s pre-pandemic performance. Net income margin stood at 9.6%.

Villar attributed the rise in sales to AllHome’s “continued innovation,” especially through its wider presence on social media and digital platforms. Thanks to the home improvement trend, more people are seeing things that need to be upgraded or repaired as they work from home.

“AllHome’s digital expansion is one of our top business priorities for the year. Given the change in consumer trend with the ongoing community lockdowns, we believe that on-demand delivery and online shopping will continue to increase and augment in-store sales,” the businessman and former senator added.

AllHome has 54 sites nationwide and will add two more stores in the second quarter. Shoppers can also browse and check out items for delivery through the company’s website.

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