LISTED pizza chain Shakey’s Pizza Asia Ventures Inc. on Thursday said it plans to open 20 new stores in 2018 as part of a continued drive to expand its footprint across the country.
“We will continue to take advantage of the positive consumer sentiment in the Philippines and hope to open even more stores, including those outside the typical first tier cities,” said Shakey’s President Vicente Gregorio.
Shakey’s ended 2017 opening 24 new stores, including those in provincial locations such as Iligan, Puerto Princesa, Antique, Gapan and Palo, Leyte, amid the growing urbanization trend in such areas. The new stores bring its total store network to 228.
“It has been a banner year for Shakey’s – our maiden year as a publicly listed company – as this is the fastest we’ve grown in terms of store network. We have a strong belief in our brand and our strategy, and are keeping pace with the accelerating growth of our economy,” said Gregorio.
Shakey’s currently maintains market leadership in both the full service and pizza chain categories.
Apart from the Philippines, the company owns the perpetual rights to the Shakey’s brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia and Oceania.
It reported that recurring net income for the first nine months of 2017 grew by 15 percent against the comparable period the previous year.
System-wide sales also rose by 15 percent, driven by same store sales growth of 6 percent and an expanding local store network. p: wjg