Metro Retail Stores Group Inc.

Gaisanos' Metro Retail to open more stores, plans e-commerce foray

MANILA – Metro Retail Stores Group, the Visayas’ homegrown shopping mall and department store operator, is looking to build a synergy between its physical stores and a future foray into e-commerce, its chairman and CEO said Tuesday.

Brick and mortar stores are still more profitable than online counterparts, and the company is planning to open 2 stores this year and 6 to 8 more in 2018, Frank Gaisano said in an exclusive interview with ANC’s The Boss.

Gaisano cited US e-commerce giant Amazon, which posts lower income compared to Walmart, even as its market capitalization is much larger. Amazon is also betting on physical retail with its acquisition of Whole Foods.
"It’s a good mix to have, online at the same time physical store. That’s what we are doing right now," he said.

"We’re still getting ready at this point. We’re not there yet," he said, when asked about the group’s e-commerce plans.

Metro Retail makes sure its stores are stocked based on the demands of the location. While Luzon and Visayas stores may both sell jeans, they may sell different brands, he said.

Millennials want a "curated" selection with not too many choices, he said.
"They want you to offer already the selection for them," he said.
The government’s tax reform program, which seeks lower personal income tax rates, may be good for retailers, he said.

"If they have more time, they have more time to shop. It’s good for us," he said.

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mukhang masusonog rin ung binodega ko ahh.. abang nalang pag humupa na..
..down si MRSGI

Metro Retail temporarily shuts Cebu department store

METRO RETAIL Stores Group, Inc. (MRSGI) has temporarily closed one of its department stores in Cebu following a fire that lasted for more than 24 hours last week. 

The listed company told the stock exchange on Monday that it has temporarily closed Metro Ayala Department Store and Supermarket in Cebu Business Park, after the building caught fire during the evening of Jan. 5. The Bureau of Fire Protection declared the fire under control early Sunday, Jan. 7.

No casualties or serious injuries were reported because of the incident.

MRSGI said it has yet to assess the department store and supermarket’s damage and impact on its financials because of the incident, but noted it expects to recover losses in the future. MRSGI has also started the recovery and rebuilding process from internally generated funds.

On the other hand, the company said this will not affect the operations of its existing malls.

“The incident will not hamper operations of MRSGI’s other 50 stores nationwide, as well as its existing relationships with suppliers and key stakeholders,” the company said.

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"Upon exhaustive investigation conducted by the Office of the Investigation and Intelligence Division, BFP-National Headquarters, the cause of the subject fire incident has been declared and classified as ACCIDENTAL IN NATURE"
ano balita dito?

...panget pa din balita sa earnings

Metro Retail weighs three regional acquisitions

Metro Retail Stores Group Inc. is in talks for the acquisition of two or three regional chains that will enable the company meet the goal of doubling its gross floor area ahead of the 2020 target.    

“Right now we have M&As [mergers and acquisitions]  that are cooking. If these will materialize, we will probably get to our target sooner than 2020,” Metro Retail chief strategist Jonathan Juan Moreno said in a recent interview.

“Right now including stores in operations, stores under construction, sites approved for construction and sites that are about to be approved, we are at 78 percent. We are very close to our 2020 target,” he said.

Moreno said the target acquisitions were regional malls.

Metro Retail is also looking at forming joint venture partnerships to expand its product offerings. The company is particularly interested in venturing into quick service restaurants, hardware and specialty retail stores.

Metro Retail was one of the participants in the recent business matching fair conducted by Security Bank and MUFG Bank between Filipino and Japanese companies.

Moreno said Metro Retail was interested in sourcing nice, unique and value products from companies based in Japan to expand its offerings.

“The only challenge is Japanese companies’ [products] at times are priced higher. For us, since we are catering mid to mass market, we are very selective with our selection of products to ensure that these would not only add variety to our selection but at the same time give us healthy margins,” Moreno said.

Metro Retail is poised to open five stores this year to end 2018 with 55 stores. Another five stores would open in 2019.

Metro Retail posted a net income of P90 million in the first quarter, down six percent from the same period last year, despite the fire that damaged a department store and supermarket in Ayala Center Cebu.

First-quarter sales also went down by 12.1 percent to P7.02 billion from P7.9 billion recorded in the same quarter in 2017.  Share price of Metro Retail closed at P2.70 on Friday.


...mixed earnings

Puregold, Metro Retail earnings mixed in H1

MANILA, Philippines — Retailers Puregold Price Club and Metro Retail Stores Group reported mixed earnings results in the first half.

In separate disclosures to the Philippine Stock Exchange (PSE), Lucio Co’s Puregold reported a 25.6 percent jump in consolidated net income to P3.08 billion.

Consolidated net sales increased 13.2 percent to P64.03 billion with 79 percent of the revenues attributed from the Puregold Stores network and 21 percent from S&R Membership warehouse clubs and S&R New York Style Pizza stores.

As of the  end of June, Puregold group had a total of 393 stores nationwide. These include 341 Puregold stores, 16 S&R membership shopping warehouse, and 36 S&R New York Style QSR.

The Gaisano family’s Metro Retail Stores Group, meanwhile, reported a 16.7 percent drop in first semester earnings to P344 million.  The company managed to post a  profit despite the fire that damaged a department store and supermarket in Ayala Center Cebu earlier this year.  Retail sales increased by 9.5 percent.

“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,” said MRSGI chairman anad CEO Frank Gaisano.

“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, he added.


...earnings report...down dahil sa sunog ng mall nila sa Cebu

Metro Retail nets 17% lower in 9 months

GAISANO-LED Metro Retail Stores Group Inc.’s net income declined by 17 percent to P454 million in the first nine months of 2018 from P550 million in the same period last year.

In a disclosure on Friday, Metro Retail blamed the drop on a fire that hit one of its department stores in Cebu in January that led it to stop operations.

Despite this, same-store sales growth grew by 3.8 percent.

For the third quarter alone, Metro Retail said its net income hit P110.5 million.

“Our positive performance…for the third quarter highlights the efficacy of our business strategies that is defined by inventory and margin productivity, price competitiveness and merchandise assortment,” Metro Retail Chairman and Chief Executive Officer Frank Gaisano said.

Metro Retail said it continued to boost its presence nationwide. It currently operates 51 stores in the Visayas, as well as in central and south Luzon and Metro Manila.

Metro Retail shares ended down by 3 centavos or 1.44 percent to P2.06 apiece on Friday.

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