GAISANO-LED Metro Retail Stores Group Inc. (MRSGI) is expanding its footprint in Cebu Province with the recent groundbreaking of Metro Supermarket in Dalaguete, southern Cebu.
The soon-to-rise store is poised to not only deliver high-quality goods and services but also create job opportunities for the local community, fostering economic growth in Dalaguete.
“The vision of Metro Supermarket goes beyond providing goods and services. It is a commitment to being a responsible corporate citizen, supporting local initiatives, and becoming an integral part of the fabric of our community,” said MRSGI president and chief operating officer Manuel Alberto in a disclosure to the Philippine Stock Exchange on Thursday, Jan. 4, 2024.
“With the support of the local government and the active participation of our residents, this vision will undoubtedly become a reality,” he added.
Dalaguete Mayor Ronald Allan Cesante said MRSGI’s entry to Dalaguete is a big undertaking on the part of the business conglomerate as well as for the people of Dalaguete.
MRSGI currently operates 64 stores across the Visayas and Luzon regions, encompassing store formats — Metro Supermarket, Metro Department Store, Super Metro Hypermarket, and Metro Value Mart.
According to the company’s website, there are about 18 branches of Metro Supermarket in Central Visayas.
MRSGI ended the first nine months of 2023 with a net income of P254.6 million, down by 36.5 percent from the P400.7 million net income in the same period last year.
In the third quarter alone, the company posted a P117.7 million net income.
It generated 4.7 percent growth in net sales for the quarter, supported by better sales from existing stores and incremental sales from newly opened stores.
By business, general merchandise increased by 4.8 percent for the quarter, benefitting from back-to-school and increased travel activities. Similarly, food retail expanded by 4.5 percent for the quarter mainly from higher grocery consumption and improved marketing and store initiatives.