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Tag: Metro Retail

  • Metro Retail Stores Group shares vision for sustainable shopping

    Metro Retail Stores Group shares vision for sustainable shopping

    Philippines retailer Metro Retail Stores Group Inc (MRSGI) is planning to open up more opportunities for sustainable shopping.

    Speaking at the recent Regional Forum on the Promotion of Sustainable Consumption in the Association of Southeast Asian Nations (Asean), MRSGI VP for corporate affairs Anna Marie Periquet shared that “as engines of economic growth and shapers of consumer taste, retailers can make a difference in the world.”

    Organized by Asean and the Department of Trade and Industry (DTI), the forum brought together delegates from Asean member states, representatives from relevant government bodies, and non-governmental organizations as well as regional and international experts.

    Periquet added that social responsibility is “part of MRSGI’s corporate DNA”. The company works alongside the Vicsal Foundation to create programs that holistically take on the challenge of providing sustainable solutions for society’s most pressing needs. Vicsal Foundation is the corporate social responsibility arm of Vicsal Development Corporation, which owns and operates MRSGI.

    “Together with Vicsal Foundation and our other CSR partners, we are able to actively pursue programs that support the United Nations’ 17 Sustainable Development Goals,” said Periquet. “We focus on helping eradicate poverty, provide quality education, ensure decent work and foster economic growth, and build stronger partnerships.”

    Among MRSGI’s programs are initiatives that promote inclusive business for local farmers, fisher folk and weavers. The company also helps consumer mindsets by providing them with socially-responsible and high-quality products.

    “The socially responsible goods on our shelves are not pity purchases,” emphasized Periquet. “They have passed strict tests on consumer safety, health, sanitation, and are government-registered.”

    Among the CSR brands mentioned were Caritas Margins, an organisation that works with micro-entrepreneurs from marginalised communities to create various products like food, artwork, home decor and accessories; St Arnold Janssen Kalinga Center, which provides care and livelihood for people experiencing homelessness; and the Bureau of Jail Management and Penology, which facilitates the sale of fashion and homeware products made by persons deprived of liberty.

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  • Metro Department Store is opening at Ayala Malls Feliz

    Metro Department Store is opening at Ayala Malls Feliz

    The 53rd Metro Department Store has opened its doors at the Ayala Malls Feliz in Pasig City. Covering a floor area of 21,200sqm, the store includes a 6600sqm supermarket. “Customers can look forward to an enjoyable and convenient shopping experience as we consistently strive to deliver world-class customer service as well as a wide assortment of premium quality merchandise at affordable prices,” said Frank S Gaisano, Metro Stores Retail Group chairman and CEO.

    The firm aims to open five more stores this year. An investment of P10 billion (US$191.9 million) has been allocated to store expansion over five years.

    Metro Stores Retail Group has shops in Metro Manila, Central Luzon and South Luzon, as well as in Central, Western, and Eastern Visayas through department store, supermarket, and hypermarket formats.

    For the first nine months of 2018, the group’s net income fell by 17 per cent to P454.93 million (US$8.7 million).

  • Metro Retail income reaches P789m

    Metro Retail income reaches P789m

    Cebu-based Metro Retail Stores posted P789 million (US$15.7 million) net income last year, up from P758 million in 2015.

    Net sales for the fourth quarter grew 7.4 per cent to P10.67 billion, reports the retailer, part of the Gaisano Malls group.

    Sales grew steadily during the quarter, says the Visayan retailer, with overall net sales hitting P34.4 billion for the year, up by P2.1 billion.

    During the year the company ramped up its supply chain and logistics modernization program. It inaugurated a warehouse in Cebu, and bought delivery trucks equipped with tracking devices.

    Chairman/CEO Frank Gaisano says the company is looking to sustain this growth trajectory this year, with initiatives in place to boost sales and improve store-by-store profitability.

    The company has a 50-strong store network – 25 supermarkets, 13 hypermarkets and 12 department stores.

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  • Japanese cosmetics brand Do-Best eyes Asian expansion

    Japanese cosmetics brand Do-Best eyes Asian expansion

    Japanese cosmetics brand Do-Best is looking at opportunities in the Philippines and broader Southeast Asian markets, including Indonesia.

    Do-Best CEO Daitaro Sugawara was in the Philippines for a group networking session organised by Security Bank and Japan’s Mitsubishi UFJ Financial Group. He was matched with executives from local retailers including Metro Retail and National Bookstore.

    Do-Best was founded 45 years ago to produce “high-quality, low-priced products” and is already exporting to Singapore, Hong Kong, Thailand and Taiwan.

    Sugawara says the company wants to tap into the fast-growing Asian markets with young consumers seeking low-cost cosmetics and beauty lines. Its products are already popular in Japan’s proliferation of 100 Yen shops and similar stores.

    “That’s why I was interested to have a meeting in the Philippines. My product is like my family, so I want Philippine distributors or retail stores to take care of our products.

    “I want to keep the original price as in Japan,” Sugawara said.

    Tadahiro Miyamoto, GM of BTMU’s Manila branch, says a lot of Japanese companies are now looking at the Philippine domestic market. “You should look at the shopping areas, you see a lot of Japanese products.”

    A large number of participants in the recent business-matching event were from the retail sector, agriculture and real estate.

  • Metro Retail income soars 20.6 per cent

    Metro Retail income soars 20.6 per cent

    Metro Retail Sales, Visayas’ largest retailer, has reported a rise in after-tax income of 20.6 per cent to P758.6 million (US$16.4 million) for 2015.

    Metro Retail (MRSGI)’s net sales grew 13.9 per cent to P32.5 billion last year from 2014, said the company in a disclosure to the Philippine Stock Exchange. Earnings before interest, taxes, depreciation and amortisation rose 18 per cent to P1.49 billion in the same period, due to reduced operating expenses.

    The company’s same store sales grew by 8.8 per cent on the back of strong performance of its hypermarkets, department stores and supermarkets.

    Several milestones for the 33-year old Metro Retail made 2015 an exceptional year for the company. It saw the expansion of its store network nationwide, with 24 supermarkets, 12 hypermarkets and 10 department stores, with a total gross floor area of approximately 400,000 sqm by December 2015.

    Said chairman and CEO Frank Gaisano: “2015 has certainly been a banner year for Metro Retail, as our strong financial performance clearly shows. I believe that 2016 will be another record year for Metro Retail, being well on track with our store expansion and logistics efficiency initiatives to support our goal of doubling our footprint in the next five year.”

    The company was listed in November 2015, having the largest new equity issuance at P3.6 billion for that year.

    Its entry into the local bourse is seen not only to support the company’s expansion plans, but also underscore Metro Retail’s capability to compete with other industry players in serving the value conscious market.

    Metro Retail partnered with Ayala Land for the establishment of its stores in four new Ayala commercial developments – a department store and supermarket in Bacolod City, Negros Occidental; a supermarket in Iloilo City; a supermarket in Cebu City; and a department store and supermarket in Pasig City.

    Metro Retail also expanded its department store network with the acquisition of the department store assets of SIAL Specialty Retailers, a joint venture between ALI and Stores Specialists in March. Located at Fairview Terraces Mall and the UP Town Center, the stores have a combined gross floor area of approximately 25,000 sqm and will increase Metro Retail’s department store network to 12.

  • Metro Philippines plans 100 stores

    Metro Philippines plans 100 stores

    Listed retailer Metro Retail Stores Group, based in Cebu, has launched an expansion program aimed at taking its network in The Philippines to 100 stores within five years.

    Nearly three years after supertyphoon Yolanda devastated the coastal community in the Leyte region, the biggest retailer in the Visayas plans to open a store in Tacloban City.

    Metro representatives met with Mayor Alfred Romualdez last month to tell him of the company’s decision to invest in Tacloban, reports the Cebu Daily News.

    Metro plans a two-storey building for a 2ha. property in Real Street, owned by a church. The Metro Gaisano in Tacloban will create job opportunities and also help the city government in terms of taxes. Construction is scheduled to start next month, with the store expected to open within a year.

    Metro, the country’s fourth-largest retailer, earlier said it planned to open 50 to 70 new stores in the next five years. Most of these would be in the Visayas.

    There are two other Gaisano-owned shopping malls in Tacloban — the Gaisano Capital and Gaisano Central.

    The retail arm of Vicsal Development, Metro debuted on The Philippines stock market in November.

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  • Metro Retail starts expansion

    Metro Retail starts expansion

    Newly listed Visayan retailing giant Metro Retail Stores Group Inc. (MRSGI) is riding on the buoyant consumer spending in the country by expanding its delivery fleet and distribution infrastructure.

    “We aim to be a leader in retail supply chain management and meet our customers’ demand for world-class services,” MRSGI chair and chief executive officer Frank Gaisano said in a recent statement.

    Gaisano recently led the turnover of 37 new delivery trucks from Isuzu Philippines Corp. and 30 new delivery trucks from Hino Philippines to MRSGI’s logistics facility in Silangan, Laguna.

    In line with MRSGI’s objective to improve logistic capabilities, the company teamed up with Isuzu Philippines for the acquisition of 13 units of Isuzu FVM 10-wheeler trucks with aluminum wing van, 12 units of NKR71 with refrigerated van body and 12 units of NKR71 with aluminum body.

    The company also teamed up with Hino Philippines for the acquisition of 16 units of SH1E tractor head and 14 units of WU342L 6-wheeler truck with aluminum van body.

    The new fleet will be deployed to MRSGI’s 46-store network that serves over 250,000 customers daily, the company said.

    To ensure timely delivery of goods and improve overall cost efficiency, MRSGI plans to equip all its in-house delivery trucks with tracking devices that will enable real-time monitoring from the company’s control center. “Employing the latest technology is a key innovation that will drive our business forward,” said Gaisano, highlighting the company’s commitment to continuously upgrade its infrastructure.

    Alongside its investments in technology and equipment, MRSGI also plans to hire 130 personnel to join its team of engineers, mechanics, customer service representatives, traffic controllers, and cost and transport specialists who support the company’s growing logistics and supply chain network.

    MRSGI has also committed to train its drivers on safety, driving efficiency, and customer service delivery in line with its thrust to provide friendly and responsive service to its customers. “We have a comprehensive approach to improving service delivery,” said Gaisano, who explained that “good customer service does not stop with store associates, but is reflected in every aspect of the company’s operations, including supply chain management and back-end services.”

    Armed with fresh capital for expansion, MRSGI—which listed back in November—planned to open 50 to 70 new stores to double its nationwide retailing footprint in the next five years.  The group currently has around 400,000 square meters of gross floor area across its 46 stores, making it the largest retailer in Visayas and the fourth largest nationwide.

  • Metro Retail to tap P1.05-B loan facility

    Metro Retail to tap P1.05-B loan facility

    GAISANO-LED mall developer Metro Retail Stores Group Inc. (MRSGI) will be tapping a P1.05-billion loan facility for future projects.

    In a disclosure to the Philippine Stock Exchange on Friday, Metro Retail said its board of directors had allowed the company to use the facility, provided by Union Bank of the Philippines (UnionBank).

    “In the same resolution, the board approved the authorized signatories to transact with the UnionBank on behalf of the corporation for the availment of the said credit accommodation and facility,” the disclosure read.

    “It is in addition to our existing untouched loan facilities that we can tap,” Metro Retail Chief Finance Officer Aljim Jamandre told The Manila Times.

    The firm still has P9 billion worth of credit facilities from banks, which Metro Retail can tap in case of funding needs after pricing its initial public offering (IPO) at a steep discount from the original guidance.

    The 35 percent discount still yielded Metro Retail P3.62 billion from its IPO. The plan before the discount was to raise P6.17 billion.

    Joseph Conrad Balatbat, MRSGI vice president for business development, said the company “has more than adequate untapped credit facilities in addition to our IPO proceeds that can fund our current and immediate expansion plan.”

    The company is looking to build 60 to 70 stores mostly in the Visayas over the next five years to bring its store count to more than 100 by 2020 from 46 stores at present. The five year plan entails a budget of P10 billion to P15 billion.

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