Wilcon Depot Inc. reported a 6 percent decline in net income for the first nine months of 2026, falling to P1.63 billion from P1.75 billion in the same period last year, as challenging weather conditions and macroeconomic headwinds slowed its third-quarter earnings momentum. For the third quarter alone, net income dropped 22 percent to P548 million. President and CEO Lorraine Belo-Cincochan noted that heavy rains in August kept shoppers away from home improvement projects, pulling down both store footfall and sales for that month, while surging inflation in September—driven by high oil prices and a weaker peso—dampened consumer spending power even further. She explained that shoppers scaled back to essential or repair-related work instead of larger renovation projects, though the company maintained positive same-store sales growth across the period and remains on track to end the year with a positive full-year SSSG figure. Despite the lower income, total net sales for the nine-month period rose 8 percent to P28.42 billion, supported by the opening of seven new stores that lifted the nationwide network to 111 locations. Sales from its core depot network reached P27.34 billion, up nearly 8 percent with a 3.7 percent same-store sales increase, while its smaller-format Do It Wilcon branches grew 15 percent to P960 million and posted a 5 percent SSSG gain. Looking ahead, the retailer said it will focus on keeping popular items in stock and improving in-store service to convert more visitors into buyers, and sustain positive growth through the final quarter.
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Agriculture
DA lifts poultry import ban on Germany
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Agriculture
Temporary pork import ban may extend beyond 60 days if needed
The Department of Agriculture announced Monday that its new 60-day temporary restriction on pork imports could be extended beyond the initial period if conditions warrant, stressing that the government must balance the interests of local producers, consumers, and meat processors. Agriculture Secretary Francisco Tiu Laurel Jr. confirmed the possibility of extending the measure, drawing parallels with last year’s rice import ban, while noting that careful consideration is needed to avoid undue impact on meat prices and supply ahead of the Christmas season.
Property
SM Prime earnings fall 5% as housing slump hits sales
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