Wilcon Q3 profit up 16% as same-store sales rebound

Wilcon Depot, Inc., the country’s largest home improvement and construction supplies retailer, posted a consolidated net income of P1.866 billion for the first nine months of 2025, with third-quarter results signaling a clearer turnaround after a weak first half. The company’s Q3 2025 net income rose 15.8% year-on-year to P703 million, supported by improving store traffic, stronger same-store sales, and continued network expansion.

Net sales for the quarter climbed 8.6% to P9.228 billion, driven by a 4.8% same-store sales increase and the contribution of newly opened depots. Wilcon opened one additional depot in North Luzon during the period, ending the quarter with 103 stores nationwide.

“Our third quarter performance marked a positive turn for Wilcon with our comparative sales (same store) growing at 4.8% year-on-year, resulting in a 15.8% net income growth,” said Wilcon Depot President and CEO Lorraine Belo-Cincochan. She added that while weather-related disruptions affected store operations earlier in the year, “demand continued its increasing trend,” raising expectations that the company will “completely turnaround our first half results by the end of the year.”

For the nine-month period, Wilcon generated P26.337 billion in net sales, up 2.6% from the previous year. Same-store sales remained slightly negative at -1.7%, but significantly improved from the -4.9% decline posted in the first half. Depots accounted for 96.3% of total sales, growing 2.9% to P25.37 billion.

Gross profit for the period slipped 0.6% to P10.076 billion due to lower blended gross margins, partly offset by higher contributions from in-house and exclusive brands. Operating expenses rose 3.9% to P7.94 billion, driven by manpower, depreciation, and supplies, while short-term rent and promotional spending declined.

The company said its expansion strategy remains intact, with plans to continue building its store network to capture more market share as consumer spending on home improvement gradually strengthens.