New stores boost Max’s Group Philippines
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Max’s Group Philippines has opened nine stores mainly across star brands Max’s Restaurant, Pancake House, Yellow Cab Pizza and Krispy Kreme in the first quarter of 2016.
These expansions include three international outlets – Max’s Restaurant in Qatar, Yellow Cab Pizza in UAE and a Sizzlin’ Steak concept store in California.
Max’s Group Inc reported a net income of P162.3 million for the first quarter 2016, up 8 per cent compared to P150.6 million for first quarter 2015.
“The numbers are in line with our estimates. We are now starting to realize the revenue impact of new stores that came onboard in the latter part of 2015. By recalibrating our design and build plan, we expect a leveled and systematic rollout of stores for the entire year,” said Robert Trota, president and CEO of Max’s Group Inc.
Topline growth was at 12 per cent to P2.7 billion from P2.4 billion. Restaurant sales increased 13 per cent to P2.3 billion from P2.1 billion driven by steady same store sales growth and new store openings for the period.
Questions & Answers
Q.Which of Max's Group's brands were part of the recent store expansion in the first quarter of 2016?
Which of Max's Group's brands were part of the recent store expansion in the first quarter of 2016?
The new stores mainly involved star brands such as Max’s Restaurant, Pancake House, Yellow Cab Pizza, and Krispy Kreme. The expansion also included a Sizzlin' Steak concept store in California.
Q.How much did Max's Group Inc's net income increase in the first quarter of 2016 compared to the same period last year?
How much did Max's Group Inc's net income increase in the first quarter of 2016 compared to the same period last year?
Max's Group Inc's net income rose by 8 per cent to P162.3 million in the first quarter of 2016. This is an increase from P150.6 million reported for the first quarter of 2015.
Q.What contributed to the 13 per cent increase in restaurant sales for Max's Group during the first quarter of 2016?
What contributed to the 13 per cent increase in restaurant sales for Max's Group during the first quarter of 2016?
The increase in restaurant sales, which reached P2.3 billion, was driven by consistent same-store sales growth. New store openings during the period also played a significant role in this growth.
Q.What is Max's Group's strategy for store expansion for the rest of the year?
What is Max's Group's strategy for store expansion for the rest of the year?
Max's Group plans a leveled and systematic rollout of stores for the entire year. This approach comes after recalibrating their design and build plan to ensure a more organised expansion.
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