“We are pleased with our strong start for the year as our customers trooped back to our stores when the Omicron variant surge receded in February,” Wilcon Depot Chief Executive Lorraine Belo-Cincochan said in a statement.
The depot format stores’ sales were up 15% to P7.5 billion, which accounted for 97.5% of total net sales, while its smaller format store Home Essentials’ sales declined by 1.3% to P138 million. Including lease-related interest expense or rent expense, total operating expenses totaled P1.9 billion.
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