As households grapple with inflation, home improvement retailer Wilcon Depot Inc. is prioritizing the expansion of its smaller format stores, which will account for large chunk of its P2.2-billion capital spending target in 2024.
Mary Jean Alger, vice president for investor relations, said on Monday the majority of the capital will fund the construction of at least 10 new stores, as Wilcon aims to reach its 100-store target.
By the end of March this year, Wilcon had successfully opened three new stores, bringing its total to 93 across various formats.
Notably, four out of the 10 planned openings for this year will be in the Do-It-Wilcon (DIW) format, according to COO Rosemarie Bosch-Ong.
These DIW stores, launched during the pandemic, cater to smaller communities and have proven to be a successful strategy for growth.
