SSI Group Inc., the country’s largest specialty store retailer, said Thursday it plans to close a few more stores this year as a part of a network rationalization.
SSI Group president Anthony Huang said at the sidelines of the annual shareholders’ meeting the company would close down non-performing stores while expanding its restaurant and e-commerce business.
Huang said the company’s existing restaurant business under TWG and SaladStop! stores in Philippines was expanding “quite nicely, prompting the company to evaluate some opportunities in sector.”
SSI Group also plans to expand its e-commerce business, which currently accounts for less than 5 percent of sales. “It’s something we know that once it reaches its inflection point, it’s just gonna go. We’re ready for it and we’re expanding accordingly,” Huang said.
