AllDay Supermarket Bucks Omicron Surge, Posts 33% Growth In Core Net Profit For Q1 2022
AllDay Supermarket continues to leverage an elevated, world-class grocery experience through its first operating quarter following its successful IPO last November 3, 2021, posting a 33% uptick in core net profit for the first quarter of this year—up from Php 71 million in Q12021 to Php 95 million in Q12022.
Photo Insert: The State Office in Washington D.C., United States (placed in the photo)
The chain also recorded a 7.4% increase in revenue: Php 2.293 billion vs Php 2.135 in Q12021.
“AllDay’s business results in the opening quarter of 2022 is a display of our strong operating fundamentals across the chain,” said Manuel B. Villar Jr, Chairman of AllDay.
“More than our established affinity with a customer base hungry for better retail experiences, this quarter showed that AllDay can capably navigate extraordinary circumstances, such as the Omicron surge early in the quarter—from January to mid-February of this year. We immediately capitalized on the footfall improvement brought about by the downgrading of the pandemic restrictions to Alert Level 1, to which we attribute our satisfactory performance for Q12022. It is a strong start to 2022, and we are confident in navigating the country’s continued recovery from the pandemic,” he added.
The chain also reported improvements in gross profit, turning in Php 467 million versus Php 424 million for the same period as last year, a 10.2% increase. Comprehensive International Selections banner margin improvements
Camille A. Villar, AllDay Vice Chairman said “AllDay’s maiden quarter after our IPO last December validates our implementation of our blueprint: an innovative and elevated in-store and online experience at par with the best in the world. We are confident that the continuous fine-tuning of AllDay’s in-store and e-commerce journeys will translate to even more customers discovering and patronizing the unique AllDay experience.”
Ms. Villar further noted that AllDay’s comprehensive international selection and initiatives including a value-based pricing strategy, improved sourcing, and a recently launched private label all performed to AllDay’s expectations, contributing to the chain’s gross profit margin improving to 20.4%.
AllDay leans into 2022 expansion plan
Frances Rosalie T. Coloma, AllDay Supermarket’s Chief Executive Officer views the coming quarters with optimism. “We believe that our Q12022 performance is a strong start for the fiscal year, especially as we navigate the country’s recovery from the effects of nearly two years of pandemic restrictions. The first quarter saw us open AllDay Worldwide Corporate Center in Mandaluyong, a new NCR location. For the balance year, AllDay’s expansion will prioritize NCR and Tier 1 cities across the country as we grow the network to our 100 store milestone by 2026.”
Coloma further said: “In terms of operations, we are pleased with our growth thus far, and we intend to capitalize on all our opportunities to improve, especially through negotiation gains with our valued suppliers that come with our increased purchase volumes as we continue expand our store network footprint.”