Higher sales
Despite this, net sales grew 4.2 percent to P27.6 billion, driven by steady performance from existing stores and new openings.
Same-store sales increased 1.5 percent, with food retail seeing a 5.8 percent rise, though general merchandise slipped 1.2 percent. Gross margin narrowed to 21.1 percent as the company cleared old inventory, but improved cost controls reduced the expense ratio to 20.2 percent. MRSGI added five new stores in Samar, Leyte, and Cebu, boosting its network to 69 locations.
Store network
As of today, Metro Retail operates 69 branches across Luzon and the Visayas under the formats Metro Supermarket, Metro Department Store, Super Metro Hypermarket, and Metro Value Mart.
Management’s view
“The results of our first nine months with sustained cash earnings reflect the company’s resilience as we navigate the evolving retail landscape,” said MRSGI president and chief operating officer Manuel Alberto.
“Moving into the final quarter, we remain focused on adapting to market conditions, finding new strategic opportunities, and realigning our priorities to ensure we end the year on a more positive note and to gain momentum for 2025,” he added.
