Saturday, May 28, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Corporate

PSC set to open 412 stores in 2017

Jenniffer B. AustriabyJenniffer B. Austria
March 8, 2017, 8:40 pm
in Corporate
Reading Time: 2 mins read
A A
72
SHARES
Share on FacebookShare on TwitterShare on Email

Philippine Seven Corp., the local franchise holder of convenience store chain 7-Eleven, said Wednesday it will spend P3.5 billion this year to open 412 stores across the country.

PSC president and chief executive Jose Victor Paterno said the company would remain aggressive in store openings as it aimed to grow its store network by 20 percent annually over the next few years.

“We will be growing at the same pace by about 20 percent over the next few years. Consumption remains strong and we remain bullish on the consumer sector,” Paterno said.

The company said of the 412 stores, 50 stores would be in Mindanao, 50 in the Visayas and the rest in Luzon.

The company on Wednesday opened its 2,000th store at LV Locsin Building in Legaspi Village, Makati.

ADVERTISEMENT

From opening its first store in 1984, 7-Eleven became the country’s leading convenience store chain.  With only 500 stores seven years ago, PSC expanded the stores to 1,000 in 2014 and 2,000 in just over two years.

It said of the 412 stores for opening this year, half would be company-owned and the other half would be franchised-stores.  PSC said sales in 2016 grew 23 percent to P32 billion. 

The competition in the convenience store industry intensified over the past two years with the entry of new players such as FamilyMart which is being operated by SSI Group and Ayala Land, Lawson which was brought  into the local market by Puregold Price Club Inc. and Alfamart, one of Indonesia’ biggest mini-market operators, which was brought to the Philippines by SM group.

Paterno shifted the company’s focus on expanding its business operations in the provincial areas including the Visayas and Mindanao, as competition in Metro Manila heated up.

Paterno said with the growing economy, there was still room for expansion in the convenience store segement.

“In 10 years, if we are going to be at the level of Thailand in terms of per capital income, that [would be] 15,000 plus stores in the Philippines from current 4,000 stores,” Paterno said.

Paterno, citing figures from research firm AC Nielsen, said the convenience stores, sari-sari stores and grocery are top retail formats that posted faster growth rate among the fast moving consumer group.

Tags: 7-ElevenPhilippine Seven Corp.stores
ADVERTISEMENT
Jenniffer B. Austria

Jenniffer B. Austria

Related Posts

Megaworld expects most employees of outsourcing companies to return to offices soon

byJenniffer B. Austria
May 27, 2022, 8:30 pm
0
163
Megaworld sells 4 office buildings to REIT company

MREIT Inc., the real estate investment trust company of Megaworld Corp., expects most business process outsourcing companies to comply with...

Read more

VREIT reduces final initial public offering price to P1.75 per share

byAlena Mae S. Flores
May 26, 2022, 7:40 pm
0
303
Vista Land’s profit hit P6b in 9 months

VistaREIT Inc., the real estate investment trust company of Vista Land & Lifescapes Inc., pegged the final offer price of...

Read more

Megaworld bares General Trias upscale project

byDarwin G. Amojelar
May 26, 2022, 7:30 pm
0
253
Megaworld sells 4 office buildings to REIT company

Megaworld Corp. said Thursday it is building its first upscale residential village inside the 140-hectare Maple Grove township in General...

Read more

SEC approves P309-m IPO of Balai ni Fruitas

byJenniffer B. Austria
May 25, 2022, 8:50 pm
0
232
SEC approves P309-m IPO of Balai ni Fruitas

The Securities and Exchange Commission said Wednesday it approved the P309-million initial public offering of Balai ni Fruitas Inc., a...

Read more

Insular Life says profit in 2021 rose by 168% to P4.7b

byJulito G. Rada
May 25, 2022, 8:45 pm
0
199
Insular Life offers new fund with the potential of monthly income

Insular Life, the largest Filipino-owned life insurer, said Wednesday net income jumped 168 percent in 2021 to P4.7 billion from...

Read more

Alliance Global Group’s net income jumped 52% to P3.9b in first quarter

byJenniffer B. Austria
May 25, 2022, 8:40 pm
0
182
Alliance Global’s board clears plan to buy back P2.5-billion worth of shares

Alliance Global Group Inc., the holding company of tycoon Andrew Tan, said Wednesday net income jumped 52 percent in the...

Read more

Stories you may like

  • Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    36105 shares
    Share 14442 Tweet 9026
  • Of course, it was BBM’s project

    30450 shares
    Share 12180 Tweet 7613
  • INC endorses BBM, Sara

    28702 shares
    Share 11481 Tweet 7176
  • Duterte’s seven biggest achievements

    19485 shares
    Share 7794 Tweet 4871
  • Marcos leads SWS survey on presidentiables at 50%

    13549 shares
    Share 5420 Tweet 3387

Print Edition

View More

Recent Posts

  • Finance expert wants to transform PH banking
  • Summit Natural Drinking Water: Fueling Filipino athletes’ #thirstforgold in SEA Games
  • Bottler, SBCorp sign deal to help MSMEs
  • Smart GIGA Arena kicks off Mobile Legends: Bang Bang team tourney
  • Malixi shoots 67 at Arizona golf, trails leader by 1
  • Balut vendor rises to become cold chain expert
  • Palo, Cua share PPS Kabacan tennis honors
  • GCash brings digital finance solutions to Sipaway Island fisherfolk

Advertisement

Latest News

Balut vendor rises to become cold chain expert

byManila Standard Business
May 28, 2022, 6:10 pm
0
133
Developer offers downpayment deals

Successful companies know that people are their most important asset. People can make a difference in how a company serves...

Read more

Palo, Cua share PPS Kabacan tennis honors

byManila Standard Sports
May 28, 2022, 6:08 pm
0
131

Jose Palo and Dhea Cua fashioned out a pair of convincing triumphs each to clinch the MVP honors in the...

Read more

GCash brings digital finance solutions to Sipaway Island fisherfolk

byMST Tech
May 28, 2022, 6:04 pm
0
133
GCash brings digital finance solutions to Sipaway Island fisherfolk

In an effort to accelerate the digital transformation of the fishery sector, GCash, the country’s leading mobile wallet, joined forces with...

Read more

vivo launches newest T series line: Delivering premium turbo performance for MVPs

byMST Tech
May 28, 2022, 6:00 pm
0
131
vivo launches newest T series line: Delivering premium turbo performance for MVPs

vivo, one of the leading smartphone brands in the country, is powering up to release the latest addition to its...

Read more

Developer offers downpayment deals

byManila Standard Business
May 28, 2022, 6:00 pm
0
131
Developer offers downpayment deals

Bria Homes, a leading property developer, is introducing exclusive downpayment deals in selected ready-for-occupancy units all over the Philippines. Real...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App