Retail News CRM

Tag: pasig city

  • 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.

  • Wings chain lands in Philippines

    Wings chain lands in Philippines

    US-based Buffalo Wild Wings opened its first restaurant in the Philippines on Thursday, (January 29).

    The new restaurant at Capitol Commons in Pasig City is the first of several to open in the Southeast Asian country, joining more than 1070 Buffalo Wild Wings restaurants in North America.

    “Between our fresh, diverse menu and sports centric dining experience, we are confident that Filipinos will enjoy this new option for watching their favorite sporting events,” said Sally Smith, CEO and president.

    Aside from delivering on its mantra of ‘Wings. Beer. Sports.’ Buffalo Wild Wings locations will feature the company’s new restaurant design, which provides the ultimate sports viewing experience while bringing the look and feel of the stadium experience into the restaurant.

    The Philippines is the third overseas market the chain is expanding into, after Canada and Mexico.

    “What we’ve found through our international expansion is that true passion for sports and the camaraderie that comes with watching a big game with family and friends is a universal phenomenon,” said Smith.

    Buffalo Wild Wings serves Buffalo, New York-style chicken wings, available in 21 signature sauces and seasonings, ranging from Sweet BBQ to Blazin’. It also offers a full menu of burgers, appetisers and thin-crust flatbreads, all designed to be shared with friends, and a wide selection of beers.

    Each restaurant has an extensive multi-media system that features large wall-to-wall high-definition televisions for excellent sports viewing.

    The Pasig City restaurant is operated by The Bistro Group, which currently owns and operates 10 restaurant concepts, a culinary centre (The Bistro Academy) comprised of international franchises, as well as homegrown brands. The franchise group expects to open multiple Buffalo Wild Wings restaurants in the Philippines over the coming years.

    Buffalo Wild Wings will soon expand into Dubai and Saudi Arabia later in 2015 and is eyeing other international market opportunities.

    “As we explore new markets, we take the time to learn about the countries, cultures and potential partners,” said Smith. “We’re pleased to be working with a franchise partner in the Philippines who understands the needs and interests of this dynamic, evolving market, as well as our target guest, and shares our philosophy of bringing people together through great food and sports.”