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Tag: waltermart

  • SM Retail sales boosted

    SM Retail sales boosted

    SM Retail sales grew across all operations – which consist of both SM Markets and The SM Store.

    Total sales grew 8 per cent to P48.8 billion (US$1.0 billion) in the first quarter, while net income rose 16 per cent  to P1.5 billion.

    SM’s food retail business continued to expand, adding five new stores. At the end of March, SM Retail had 314 stores comprising 53 The SM Stores, 45 SM Supermarkets, 44 SM Hypermarkets, 140 Savemore and 32 WalterMart stores.

    Two acquired Cherry Foodarama grocery stores are now fully operational inside SM Cherry malls in Shaw and Congressional Avenue.

    SM earlier announced the merger of SM Retail with a group of specialty retail stores such as Ace Hardware, SM Appliance Center, Homeworld, Our Home, Toy Kingdom, Watsons, Kultura, Baby Company and Sports Central. The combined entity will have over 1900 outlets and 2.4 million sqm of GFA.

    “We are pleased with SM’s strong underlying growth in the first quarter as consumer spending continued to be vibrant and sentiment about the Philippine economy remains strong. Our continuing efforts to improve efficiencies in all our businesses have also helped ensure solid earnings growth,” SM president Harley Sy said.

    SM Investments posted a 12 per cent growth in recurring net income in the first quarter of 2016. Consolidated net income (including non-recurring items) stood at P7.0 billion for January to March, up 3.6 per cent from P6.7 billion year-on-year. Consolidated revenues grew 7 per cent to P69.8 billion for the first quarter.

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  • SM Retail posts solid sales growth

    SM Retail posts solid sales growth

    SM Retail of the Philippines has reported a 6.5 per cent increase in sales over the first nine months of the year to PHP145.3 billion (US$3.1 billion).

    Profit rose 21 per cent to PHP4.6 billion (US$98.2 million).

    Reviewing its operating divisions over the period, the company said its SM Food Retail Group (SM Markets) continued to expand in both urban and rural communities in various parts of Luzon, Visayas and Mindanao, adding 20 new stores, most of which are standalone Savemore stores.

    From historically operating anchor stores based in malls, SM Markets now follows a multi-format growth strategy to address the lack of organised retail in many parts of the country.

    SM Markets also recently invested in the minimart business with Alfamart, a successful minimart operator in Indonesia, and forged partnerships with WalterMart and Citymalls to further facilitate its provincial growth. Acquisition of existing chains of stores is another part of its growth strategy, the latest of which was the three stores of Cherry Foodarama.

    The SM Store will maintain its strategy of growing as an anchor store in SM Malls which are targeting expansion in the provincial areas. The SM Store continues to be the leading player in the country’s department store business, enjoying a wide-reaching and loyal customer base. It competes by providing the widest assortment of products and services, complemented by well-designed stores.

    As at the end of September, SM Retail had 294 stores, comprising 51 The SM Stores, 41 SM Supermarkets, 43 SM Hypermarkets, 130 Savemore stores and 29 WalterMart stores

  • SM in bid for Cherry Foodarama

    SM in bid for Cherry Foodarama

    Philippines retail conglomerate SM says it’s in talks to purchase grocery retailer Cherry Foodarama.

    In a disclosure to the inventory trade, SM Investments stated the 2 corporations are planning to enter right into a three way partnership, topic to agreeing on phrases.

    SM additionally operates in a JV association with Waltermart and rival retail big Ayala Group has a partnership with Puregold.

    Cherry Foodarama was based within the 1950s and is seen as one thing of a pioneer within the Philippines grocery enterprise. It has three shops in metro Manila – at Quezon Metropolis, Antipolo Metropolis and Mandaluyong.

    If the deal is sealed, it might take SM’s grocery retailer community to 232, the prevailing shops working underneath the SM Grocery store, Hypermarket, Savemore and Waltermart manufacturers.

    Puregold Worth Membership has 254 shops nationwide.

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