Philippines-based Metro Retail Stores Group has recorded a 9.5% increase in sales for the first half of 2018.
Strong H1 results
Metro Retail Stores Group has reported a strong set of H1 results, with PHP344m (US$6.4m) profit and strong same store sales growth of 4.6%.
Frank Gaisano, Chairman and CEO of Metro Retail, said, "The year may have started on a challenging note, but our retail sales performance remains strong and this has allowed us to move forward with greater stability and confidence [...] we started the re-building of our flagship store in Cebu, and we thank our loyal customers for their overwhelming patronage of our pop-up stores in the same mall. Rest assured that we are doing our best to accelerate the first phase of the store’s re-launch within the year [...].”
Building stronger brand presence
Metro Retail continues to expand its store network in the NCR, Luzon and in Eastern and Western Visayas. It recently opened, for example, a Metro Store at Ayala Malls Feliz in Pasig City, Metro Hypermarket in Baybay, Leyte and Metro Department Store and Supermarket in Bacolod. The retailer currently operates 51 stores and is committed to maintaining its position as largest retailer in the Visayas region.
Gaisano added, “We are committed more than ever to achieving a stronger brand presence for Metro with our continued investments in the provinces and other strategic growth areas [...] more consumers will benefit from Metro as we cement our position as one of the leading and preferred retailers in the country.”
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