AllDay Marts profit up 61% on strong in-store, online sales
Newly listed grocery chain operator AllDay Marts Inc. grew its net profit at end-September by 61 percent year-on-year to P265 million on higher sales from its growing chain of stores alongside the robust sales contribution of digital platforms.
As such, the Villar-led company expects to end this year with a “banner” performance.
AllDay’s nine-month sales went up by 22 percent year-on-year to P6.9 billion. Excluding the impact of newly opened stores to better compare turnover from the same period last year, same-store sales grew by 3 percent, bucking the industry downtrend.
“AllDay’s stellar performance to date continues to validate our concept of an elevated supermarket experience. This consistent growth shows that the AllDay experience—in-store and online—continues to resonate with the upgraded tastes and purchasing power of the Filipino consumer,” AllDay chair Manuel Villar Jr. said in a press statement.
Aggressive opening
Sales performance at end-September also surged by 121 percent when viewed against the same period in 2019, or before the pandemic. The aggressive opening of new stores has bumped up sales since then.
AllDay now operates 33 stores in 25 cities and municipalities, and intends to scale up to 100 by 2026.
Online sales accounted for 3.8 percent of total sales for the nine-month period, with third quarter revenue getting a 5.7-percent contribution from online channels.
“AllDay’s growth is a product of our continuous pursuit of innovation to meet and capitalize on retail consumer trends. AllDay will continue to implement a strategy that prizes innovation to stay a step ahead of the local supermarket landscape. Our growth, reflected by our nine-month 2021 performance versus same period of 2020 is proof that our elevated in-store experience, comprehensive product offering, international goods and e-commerce capability are spot on with the Filipino market,” said AllDay vice chair Camille Villar.
The company is currently the only grocery network that offers a 24-hour delivery service. It is likewise the first to offer self-service check-out kiosks at its stores.
AllDay Marts plans to sustain a robust growth over the long term by building 10 to 15 new stores and complementing its brick and mortar store network by building “dark stores” that exclusively cater to online shoppers.
To improve its margin, AllDay seeks to launch its own premium private label brands in the next 12 months.
AllDay recently completed a P4.53-billion initial public offering, proceeds from which will fund 10 to 12 stores. The rest of the expansion program will be funded by cash flow from its store network.
