MRSGI bullish about growth, expansion

METRO Retail Stores Group Inc. (MRSGI) recently concluded its annual shareholders’ meeting held in Mandani Bay, Mandaue City, Cebu, attended by MRSGI’s directors, top executives, shareholders and business partners.

MRSGI chairman and chief executive officer Frank Gaisano reported that the company capped 2018 with a net profit of P965.4 million.

Its financial health remains upbeat, on the back of steady same-store growth at 5.1 percent, and gross profit margins increasing 200 basis points over the last two years.

Its total sales stood at P33.05 billion, reflecting a 5.6-percent dip versus the previous year due to a fire that hit the Metro Department Store and Supermarket in the Ayala Center Cebu in January 2018.

Gaisano attributed the company’s positive performance to its agile business strategies and improvements in inventory and margin productivity, price competitiveness and merchandise assortment.

Gaisano said, “We are in an auspicious position to boost our earnings this year as we continue to seize opportunities given the vibrance of the country’s retail sector and overall economic strength, as well as robust domestic demand.”

On the other hand, MRSGI president and chief operating officer Manuel Alberto said that amid the challenges encountered in the past year, the company intensified its presence in emerging business hubs in Luzon and Visayas, with the ground breaking of Super Metro Hypermarket in Leyte and the opening of Metro Department Store and Supermarket in Ayala Feliz, Pasig and Ayala Capitol, Bacolod.

In the second half of 2019, the company aims to complete the final phase of the redevelopment of its stores in Ayala Center, Cebu to better serve its loyal patrons in the area. It will also spearhead a mixed use development incorporating another Metro Department Store and Supermarket in Samar. Alberto said the opening of more Metro stores is a top priority.

“The company’s strength is rooted in our enduring drive to make our customers happy and yield returns for our shareholders. This is also what empowers us through trying times. We recognize the role of our strategic alliances in expanding our store network. As we set our sights on higher goals, we forge ahead with the theme we have set forth for 2019–growth through operational excellence and quality customer service. We are fully committed to deliver our value proposition,” Alberto said. (PR)

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