Restaurant chain operator Shakey’s Pizza Asia Ventures Inc. said Tuesday net income jumped 26 percent in the first three months to P173 million from a year ago, led by stronger sales.
Systemwide store sales, a combination of company-owned and franchise store sales, grew 22 percent to P2 billion in the first quarter from P1.6 billion in the same period last year, the company said in a disclosure to the stock exchange.
Same-store sales growth was registered at 11.6 percent in the first quarter, as in-store head count and average checks increased.
“We are pleased with the robust first-quarter numbers, particularly the double digit SSSGs owing primarily to the success of our ‘2017 meal deal’ promotion. The first quarter is typically a lean season for our business so we are glad that the combined results of marketing programs and successful store openings have delivered the desired results,” SPAVI president and chief executive Vicente Gregorio said.
“While growth may moderate in the coming months, we are firmly on track to meet our full-year targets especially considering the seasonality of our business, where we usually see an increase in consumer spending towards the year end,” he said.
The pizza chain added five new stores to its network bringing total store count to 189. It targets a total of 20 new outlets by year-end, hoping to close 2017 with a 204-store network.
Gregorio said despite the despite the entry of various foreign and independent restaurant brands, Shakey’s was poised to maintain its leading position in the industry through excellent marketing and continued product innovation.
