Bilyonaryo Manny Villar’s AllDay Supermarket operator may have dug itself out of the red in the first three months of the year, but a local brokerage house remains unimpressed with the company’s performance during the period.
“AllDay’s disappointing performance is in contrast to the strong results registered by other supermarket operators,” the broker firm said.
“Puregold Price Club Inc., Robinsons Retail Holdings Inc., and SM Investments Inc. earnings growth amidst a recovery in same-store sales growth,” it added.
AllDay reported a net income of P89 million in the first quarter, a reversal from the P76 million net loss incurred in the same period in 2022.
Excluding the P170 million fire damage that it booked in the first quarter of last year, AllDay’s core earnings during the three-month period ending March 2023 would have still declined by six percent year-on-year.
