SHAKEY’S Pizza Asia Ventures Inc. ended the year opening 24 new stores in 2017, ahead of its earlier target of 20.
It plans to open another 20 new stores in 2018, which will bring its total Philippine store network to 228 at the end of this year.
Recurring net income for the first nine months of 2017 grew by 15 percent versus the comparable period last year.
System wide sales rose by 15 percent as well, driven by same store sales growth of six percent and an expanding local store network.
Apart from the Philippines, the company also owns the perpetual rights to the Shakey’s brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia, and Oceania. (PR)