Gaisano-owned retailer Metro Retail Stores Group (MRSGI) reported a solid performance in the first nine months of the year with the opening of new stores and the re-opening of Metro Supermarket in its fire-stricken Cebu flagship store at Ayala Center Cebu.
Metro has also reopened the second floor of the department store in Ayala Center Cebu, nearly two years after fire gutted the structure. Its multi-phase infrastructure rebuilding and restoration program is ongoing.
More stores are set to be opened. By the end of 2019, the company said it will open the Metro IT Park Supermarket in Cebu.
In 2020, three stores are slated for opening, namely: Metro Danao Department Store and Supermarket in Danao City, Cebu; Metro Tacloban Department Store and Supermarket in Tacloban City, Leyte; and Metro Sum-Ag Supermarket in Bacalod, Negros Oriental.
“We are pleased that our network and retail sales performance remain strong despite various market challenges. We have moved into the year with confidence and we are looking to close 2019 positive and strong as ever,” MRSGI chairman and CEO Frank S. Gaisano said in a statement.
Thr company, which is the first Gaisano-owned corporation to list on the Philippine Stock Exchange, reported earnings of P658 million in the first nine months of 2019, an increase of 44.5%. The company said net sales posted a 10.9% growth versus a year ago with the opening of new stores and the reopening of Metro Supermarket at Ayala Center Cebu. Same store sales grew 2.5%.
The company, which recently celebrated its 37th year, said the solid performance of Metro in Ayala Center Cebu demonstrates its resilience. Overall, MRSGI’s increasing network in Visayas as well as continued improvements in inventory and margin productivity, price competitiveness and merchandise assortment have contributed to the positive performance for the first nine months, coupled with favorable external economic factors such as low inflation and high consumer spending.
“For 37 years, our company has evolved rapidly, thanks to the support of our stakeholders, customers, and employees. Marching into the future, we commit to delivering a strong performance, while helping elevate not only the shopping experience of Filipinos but also their quality of life with more sustainable practices that can positively benefit everyone," Gaisano said.
For its contributions and accomplishments in 2019, the Philippine Retailers Association (PRA) and the Department of Trade and Industry (DTI) hailed MRSGI as the Regional Retailer of the Year at the 21st Outstanding Filipino Retailers (OFR) Awards 2019.
MRSGI was also recognized by the City Government of Makati’s Public Employment Service Office as a Top Performing Employer of the Year (2018).
Super Metro Calamba’s Supermarket and Department Store were also conferred the Silver Bagwis Award by DTI–Laguna, which recognizes establishments that overall uphold consumer rights, responsible business, and provide the best value for money. Currently, MRSGI has a network of 56 stores in key cities in Central, Western, and Eastern Visayas as well as Central and South Luzon. It operates in three store formats - supermarket, hypermarket, and department store. (Ventures Cebu)