Metro Retail Stores Group, Inc. (MRSGI) reported a higher net loss of P181.9 million in the first half of 2021 from the P84.7 million incurred in the same period last year as it continued to reel from the effects of the pandemic.

“The prevailing threat of the COVID-19 pandemic undermines the performance of the retail industry, and MRSGI is similarly affected as it continues to face disrupted store operations and reduced customer traffic due to community quarantine measures enforced across the country,” the firm said in a statement.

MRSGI said the first half last year was partly benefited by the pre-pandemic first quarter results.

Revenue for the second quarter of 2021 grew by 2.7 percent to P6.9 billion from P6.7 billion in the same period a year ago; bringing first half revenues for the year to P13.9 billion.

Total food retail business for the first semester of the year contracted by 11.3 percent, while general merchandise business declined by 1.7 percent over the same period last year.

Blended same store sales decreased by 13.9 percent over the same six-month period last year mainly due to stringent quarantine measures imposed last March to May that lowered customer traffic in physical stores.

Meanwhile, MRSGI’s operating expenses for the first half of 2021 posted an 8.8 percentreduction to P2.9 billion from its previous level of P3.2 billion.

This is primarily attributable to MRSGI’s increased efficiency and strengthened efforts in implementing cost reduction and optimization initiatives.

MRSGI said it pushes towards an omnichannel strategy to drive both its online and offline initiatives. Its online market platform, shop.themetrostores.ph, continues to be upgraded to serve its customers better.

The Company is currently expanding its strategic partnerships with leading e-commerce enablers – such as marketplaces, online payments, last-mile logistics, among others – along with improving internal process capabilities to create a retail ecosystem that facilitates seamless customer experience.

Further, MRSGI remains keen in growing its store network especially in the underserved markets. Two new stores, Metro Danao and Metro Sum-ag, were respectively launched last April and June, bringing its total store network to 61 to date.

The company plans to open more stores later this year, with an outlook for recovery especially in the Visayas area.

New store formats such as outlet stores were also launched in select locations in Metro Manila to cater to customers who are always on the lookout for quality yet value-for-money purchases.