Fashion
Philippine 7-Eleven stores will be adding new concepts and initiatives over coming months to help differentiate from rival c-store chains.
Parent Philippine Seven Corporation, revealing its trading figures for the first six months which included a decline in net profit from P472.3 million to P446.4 million year-on-year, said higher sales in the second half reduced the rate of decline from 13.3 per cent in the first quarter to 5.5 per cent in the second quarter. Same-store sales rose by 1.2 per cent in the second quarter, compared with a 2.5 per cent decline in the first.
Total retail sales rose 16.9 per cent due to network growth to P18.1 billion. The company added 347 stores during the six months, taking the total to 2087.
While revealing few details of the planned new initiatives, Philippine Seven said it would be launching new food and beverage options to stand out from other fast-food options consumers had.
The company also plans to expand its merchandise assortment and add new services reflecting growing customer demand for innovation and convenience in many categories.
Meanwhile, the company continues to pursue opportunities to expand its network.
“The company… continues to invest in opening new stores in existing and new markets even if competition had slowed down,” it said in its results statement.
