AllDay Marts opens 35th location as part of Metro Manila expansion push
The Villar-owned chain of convenience stores opened its latest location on Shaw Boulevard in Mandaluyong. This is ALLDY’s 35th location, and according to ALLDY’s IPO prospectus, the company expects to have 45 locations sometime in 2022.
Considering AllDay Marts [ALLDY 0.60 1.69%] was “born” with 33 locations on the day of its IPO in November, this means that ALLDY is taking approximately 42 days per new location, and (according to this incredibly simplified calculation) is actually slightly behind schedule to reach 45 locations before the end of the year.
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That press release was definitely inspired by a thesaurus. I don’t think there is a group on the PSE that can say more about less, and do so with style and professionalism. Sure, none of the quotes sound like things real people might say, but that’s never stopped the group from using the same press release template over and over again.
Why fix what isn’t broken? Setting Medilines Distributors [MEDIC 1.08 1.89%] aside for a moment, I like that the Villar Group’s most recent IPOs are all very proactive with their press releases, including AllHome [HOME 8.55 1.72%].
Setting aside my petty reviews of the press release form, from a content perspective it’s still too early to say whether ALLDY vindicates the group’s strategy of “premiumization”, and thesis that our growing middle class will flock to curated retail environments to spend more money than necessary on a profitable blend of high-end foreign brands and lower-end in-house brands.
Will post-COVID consumers “revenge spend” in Manny Villar’s upscale convenience stores, or will they cost-minimize or maintain old habits at any of ALLDY’s numerous competitors? Time will tell.
For now, at least, it isn’t possible to say that ALLDY’s growth is derivative of that demand; it’s coming from the proceeds of an IPO and the bet on that demand to be there in the future when all the COVID dust settles.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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