Thursday, June 05, 2008 Mall tycoon sees no need for expansion
DESPITE recognizing Cebu’s potential as a good area for supermarkets, SM Supermarket president Herbert Sy said they are still studying possible expansion plans for Pilipinas Makro Inc.
“If Cebu needs one more (Makro), we’ll build one more. But as of today, there are (no plans yet),” he told reporters during the opening of the third and biggest SaveMore branch in Cebu last week.
He said that opening another Makro, an SM Supermarket brand specifically focused on providing the needs of the catering business, will depend on the export industry of the country, among other factors.
“(Having) more exports means more work here. More work here means more canteens. (By then) we can think of building more Makros to serve these canteens,” Sy said.
He noted that the value of the dollar against the peso has strengthened, indicating an improvement for export businesses as well as increasing chances for more work and more canteens.
Consumer
Pilipinas Makro is a subsidiary of food and non-food consumer articles trader SHV of the Netherlands. Its local partner is SM Investments Inc.
Its branches are located in Cainta, Imus, Novaliches, Sucat, North Harbour, Cebu, Davao, Pampanga, Batangas, Cagayan de Oro, Iloilo, Cubao, Las Piñas, Makati and Mandaluyong. (NRC)
