Philippines news

08 August 2019
The Philippines’ SM Investments has announced 2019 H1 results, achieving 14% year-on-year growth in the first half year, its retail business up by 13%. Retail revenue reaching PHP169.8bn The group’s retail business, SM Retail, saw revenues up by 13% to PHP169.8bn and net income reached PHP5.7bn. Excluding the adjustments due to the adoption of Philippine Financial Reporting Standards (PFRS)...
22 July 2019
Philippine Seven Corp (PSC), the exclusive local licensee of 7-Eleven convenient stores, plans to open 300 new stores in 2019. Will hit 3,000 stores by end of 2019 The retailer continues to expand its franchise operations. The 300 new store openings will bring the total store count to 3,000 by end of 2019, on track with its plan announced in 2018 . A third of these 300 stores will be i...
08 July 2019
Lazada, the leading ecommerce platform in Southeast Asia, will launch a 24-hour Mid-Year Festival on July 12 across all its six markets. One-day sale designed to bring new tagline to life The sale is themed “Millions of deals your heart desires” in line with its refreshed brand idea “Go where your heart beats”. The new shopping event creates more fun for shoppers and encourages them to purs...
03 July 2019
Robinsons, a leading retailer in the Philippines, is considering an exit from the fashion business and moving into premium grocery market and pet category. “ Put money where the growth is ” The Manila-based company, whose fashion portfolio includes Topshop and Dorothy Perkins, sees shrinking operating margins and growing competition in the fashion business, but better returns from pet, heal...
15 May 2019
Phoenix Petroleum, owned by Dennis Uy, is acquiring Circle K in the Philippines. Acquisition through Philippines FamilyMart Phoenix Petroleum’s subsidiary Philippine FamilyMart CVS Inc. is in the process of acquiring Circle K in the Philippines. The acquisition aims to help FamilyMart drive future growth, with Circle K stores set to be rebranded to the FamilyMart banner over the next few mo...
10 May 2019
SM Retail has announced Q1 results for the period ending 31 March 2019, with total revenue up 13% to PHP79.0bn. Food revenue up 17% to PHP41.8bn The food side of the business continued to see strong growth during the period, driven by positive like-for like sales in existing stores, as well as the opening of 1 SM Supermarket, 1 Savemore and 52 Alfamart stores. Although the retailer didn't o...
07 May 2019
SM Retail and A.S. Watson’s joint venture, Watsons, will open 100 new stores in the Philippines this year. Opening community-based stores Of the 100 planned new stores, 80% will be community-based stores. The aim is to provide greater accessibility to shoppers as it recognises that not all shoppers go to malls. These stores will be approx. 200 sq m, with three quarters of the space used as ...
07 May 2019
Robinsons has posted its annual results, with net sales up 15.1% to PHP132.8bn (US$2,556m). Strong set of annual results Robinsons posted net income of PHP5.1bn (US$98.5m) last year, an increase of 2.6% on the year previous. It achieved a 5.9% like-for-like (LFL) growth last year, mainly supported by a 6.1% increase in basket size in its supermarket business. In its convenience store bus...
11 March 2019
Lazada, the leading ecommerce platform in Southeast Asia, owned by Alibaba Group, plans to expand its cross-border trade for international brands. Global Collection 2.0 One of the key initiatives announced was a revamped “Global Collection”, which is a dedicated channel to showcase  Lazada’s cross-border merchants from around the world. The platform aims to help the brands grow their busine...
04 February 2019
The Philippines’ second largest retailer is expanding towards new geographic locations by opening stores and acquiring grocery retail chains nationwide. New stores opening The group is to open 25 more stores and four S&R membership warehouse stores this year. The four S&R membership warehouse stores to be opened this year will be located in Metro Manila, Southern Luzon and outside Metro Man...