16.9% fall in Wilcon Depot Inc.'s first-half net income due to sales drop.

Wilcon Depot Inc., a Philippines-based home improvement retailer, experienced a 16.9% fall in first-half net income to P1.51 billion due to a 4.6% drop in comparable sales. Net sales slightly increased to P17.18 billion, and the company is planning to open five more stores by the year-end to reach its 100-store target. Despite challenges, second-quarter performance improved, with a 3% increase in sales and a net income of P770 million. Wilcon's CEO, Lorraine Belo-Cincochan, is optimistic about the company's performance in the second half.

July 31, 2024
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