Wilcon Depot Inc., the home improvement retailer, reported a 3 percent drop in net income last year, falling to ₱2.44 billion from ₱2.52 billion in 2024, even as total sales rose.
The company’s net sales grew nearly 4 percent to ₱35.44 billion, mainly thanks to revenue from new stores, while same-store sales fell slightly by 0.3 percent. During the year, Wilcon opened six new depots, closed two smaller stores, and reopened one depot that had burned down, bringing its total store count to 104 by year-end.
CEO Lorraine Belo-Cincochan said the company saw positive same-store sales in the fourth quarter, helping boost second-half net income by 26 percent. She noted that adjustments in store organization, marketing, and layouts helped reverse performance declines.
For the fourth quarter alone, net income jumped 41 percent to ₱580 million, with sales up 7 percent to ₱9.1 billion. Comparable store sales grew 3.8 percent, while new stores contributed the rest. Wilcon also opened two new stores in North Luzon during the quarter.
Depot sales for the quarter reached ₱8.77 billion, up 7 percent, with in-house and exclusive brands accounting for 52 percent of total sales. Looking ahead, the company plans to open eight more stores this year, having already launched three.
