AllDay Supermarket, a listed supermarket operator, said Tuesday it booked in the first quarter a net income of P88.6 million, a sharp reversal from the P75.6 million net loss in the year-earlier period.
The company recorded losses that total P170.5 million in the first quarter of 2022 after a fire severely damaged inventory, property and equipment at its store in Alabang. Insurance claims were received later in 2022.
AllDay said sales increased 6.5 percent year-on-year to P2.44 billion due to higher sales from existing stores and contributions from new stores. Cost of goods sold rose 5.9 percent to P1.93 billion.
“AllDay’s performance in the first quarter continues to validate our strategy and concept of a truly world-class and elevated supermarket experience that we have brought to more Filipinos throughout the country,” says AllDay chairman Manuel B. Villar Jr. “We look forward to the rest of 2023 as we continue to fine-tune and deploy the AllDay blueprint, reaching even more Filipinos in our communities of operation,” he added.
AllDay president and chief executive officer Frances Rosalie Coloma said that improving operational efficiencies is a potential driver to further sustain performance in adapting to shifting consumer behavior.
“Now that the country has returned to normal, we look to our now 36 locations across the country and the many operational opportunities we can harness to deliver efficiency, and ultimately value, to our stakeholders,” she said.
