MRSGI sees profit growth in 2019

Published May 5, 2019, 12:00 AM

by manilabulletin_admin

By James A. Loyola

The Metro Retail Stores Group, Inc. (MRSGI) expects to be more profitable this year as it continues to expand amid rising consumer demand.

During the firm’s annual stockholders’ meeting, MRSGI Chairman and CEO Frank Gaisano said, “We are in an auspicious position to boost our earnings this year as we continue to seize opportunities given the vibrance of the country’s retail sector and overall economic strength, as well as robust domestic demand.”

On the other hand, MRSGI President and COO Manuel Alberto emphasized that amid the challenges encountered in the past year, the company intensified its presence in emerging business hubs in Luzon and Visayas.

MRSGI has broken ground for Super Metro Hypermarket in Leyte and opened Metro Department Store and Supermarket in Ayala Feliz, Pasig and Ayala Capitol, Bacolod.

For the second half of the year, the company aims to complete the final phase of the redevelopment of its stores in Ayala Center, Cebu which is its biggest outlet.

It will also spearhead a mixed-use development incorporating another Metro Department Store and Supermarket in Samar. Alberto said the opening of more Metro stores is a top priority.

“The company’s strength is rooted in our enduring drive to make our customers happy and yield returns for our shareholders. This is also what empowers us through trying times,” he said.

Alberto added: “We recognize the role of our strategic alliances in expanding our store network. As we set our sights on higher goals, we forge ahead with the theme we have set forth for 2019 – growth through operational excellence and quality customer service. We are fully committed to deliver our value proposition.”

Currently, MRSGI operates 13 department stores, 28 supermarkets and 13 hypermarkets.