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Philippine conglomerate SM Investments Corp., a prominent player in the Sy family business empire, has announced its strategic decision to exit the data centre sector. The company plans to divest its interest in YCO Global Cloud Centres, a move that has…
Aptos, a recognized market leader in retail technology solutions, today announced that The SM Store, the largest department store chain in the Philippines, will deploy Aptos Merchandise Financial Planning to optimize its omnichannel merchandising strategies.…
Philippine shopping mall SM Aura Premier has launched an online shopping service for customers facing restrictions on movement during the coronavirus pandemic. The Aura Concierge system allows customers to select a method of receiving essential goods,…
As the community quarantine continues all over Luzon, Philippine conglomerate SM Group has committed to maintaining regular pay for all of its employees, without deductions from their vacation or sick leave entitlements. The company will also give a US$97.64…
Selected SM Markets stores in the Philippines are to open 24 hours a day to take advantage of the holiday buying surge. The Filipino food retailer said shoppers, especially night workers and those leaving holiday shopping to the last-minute, will now be able…
US-based Asian dining concept Panda Express will open its first Philippines restaurant on December 12. Located at SM Megamall in Mandaluyong City, the first Panda Express will offer the same menu as those in the US, including its signature dish orange chicken…
SM Prime Holdings is launching a new lifestyle mall in Zambales, the Philippines. The firm’s 73rd shopping mall in the territory, a 72,000sqm four-story complex, will open in Olongapo city’s CBD with 85 percent tenant occupancy confirmed so far. It is SM…
The Philippines’ SM Investments has achieved 14-per-cent sales growth in the first half-year, its retail division up by 10 percent. Profit for the half-year rose 27 percent, with banking and property divisions driving most of the growth. The company said SM…
SM Retail has achieved a first-quarter profit increase of 5 percent to P2.7 billion (US$51.7 million). Retail revenues in the first three months rose by 13 percent year-on-year to P79 billion, while sales from specialty retail stores grew by the same…
Philippine property giant SM Prime Holdings says its net income in the first quarter increased 16 percent based on higher rental income and residential sales. Gross earnings increased 14 percent to PHP26.5 billion (US$508.1 million) during the time period,…
Philippine property developer SM Prime Holdings has committed PHP80 billion (US$1.53 billion) for constructing four new malls, residential units and mixed-use spaces this year. The additional capital is intended to support expansions that include opening an…
The founding father of Philippine retail, Henry Sy, has passed away. Sy, who has topped the Philippines Rich List for the last seven years, was chairman emeritus of SM Investments, one of the country’s largest business conglomerates. A Chinese immigrant who…
Ikea Philippines says its first store will take up an enormous 65,000sqm space, making it the world’s largest. The current largest Ikea store globally opened in Seoul in December 2014 and takes up 59,000sqm. Local franchisor Inter Ikea Systems, which operates…
Active lifestyle smartwatch Garmin Philippines will introduce its expanded line to the Philippine market and open another location this year in Vertis North Mall Quezon City and its first-ever branch in Mindanao at the SM Lanang Premier (Davao). Garmin…
Ikea Philippines will open its first store next to Mall of Asia in Manila in 2020. Inter Ikea Systems announced in February it had appointed Ikea Southeast Asia (Ikano) as Philippine franchisee, the same company that holds the rights to Singapore, Thailand…
SM Retail, a subsidiary of SM Investment Corporation (SMIC), has called off a planned acquisition of Goldilocks Bakeshop chain in the Philippines. This follows the Philippine Competition Commission (PCC) approving the takeover just last month. Citing changes…
