Wilcon Depot, Inc. (Wilcon), the Philippines’ leading home improvement and finishing construction supplies retailer, today reported its financial results for the third quarter and nine months ended September 30, 2025, highlighting a significant positive reversal in performance led by robust comparative sales growth.
Wilcon’s net income for the third quarter jumped 15.8% year-on-year (YoY) to P703 million. This substantial increase was fueled by net sales growth of 8.6%, reaching P9.228 billion for the quarter.
The primary driver of the successful quarter was the 4.8% growth in same-store sales (SSSG), marking a definitive positive turn for the company. This improvement was largely attributable to a strong 5.0% increase in comparative footfall and transaction count within Wilcon’s comparable stores.
“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 Lorraine Belo-Cincochan, President and CEO of Wilcon Depot. “We have already observed spurts of uptick in home improvement spending as early as May, and while the momentum was intermittently disrupted by natural calamities, demand continued its increasing trend through Q3.”
The strong third-quarter results helped mitigate the decline recorded earlier in the year. For the first nine months of 2025, Wilcon reported a net income of P1.866 billion, representing an 11.9% decline from the previous year, but significantly lessening the earnings contraction seen at the half-year mark.
Net sales for the nine-month period totaled P26.337 billion, up 2.6% YoY, contributed primarily by sales from new stores. Crucially, the same store sales decline for the nine months eased substantially to 1.7%, a significant imprvement from the 4.9% decrease registered in the first half of the year.
Ms. Belo-Cincochan reiterated the company’s forward-looking strategy: “We are hopeful that this trend will be sustained and that we will be able to completely turnaround our first half results by the end of the year. We are still pursuing our expansion plans as we aim to be well-positioned to capture more market share and continue to improve our service delivery with agility to be in sync with changing customer preferences.”
Wilcon’s strategic expansion continued during the nine months of 2025, with four new depot stores opened across the country. The company ended the third quarter with a total of 103 operating stores. Depot format sales continued to dominate, contributing 96.3% of total net sales. Furthermore, Wilcon’s strategy of promoting its in-house and exclusive brands continued to succeed, with their contribution to total net sales increasing to 52.9% for the third quarter.
