MerryMart targets 2024 finish for Laguna center
Source：https://www.manilatimes.net/2024/02/24/business/corporate-news/merrymart-targets-2024-finish-for-laguna-center/1933862
From：Taiwan Trade Center, Manila
Update Time：2024/04/03
Tycoon Edgar “Injap” Sia II’s MerryMart Consumer Corp. raised its 2030 recurring revenue target to P150 billion, reflecting its strong confidence in the Philippine retail sector despite current inflationary pressures. MerryMart, which operates grocery stores and supermarkets, said the new figure was 25 percent higher than its original goal.
LISTED retailer MerryMart Consumer Corp. plans to complete the development of a two-hectare distribution center in Laguna this year under an effort to roll out electricity-powered delivery trucks. The new facility is expected to "significantly widen" MerryMart's market coverage for its wholesale operations and make existing logistics services "more efficient," the company said Friday.
MerryMart currently operates an 11,000-square meter logistics distribution center in Northern Luzon, and targets to expand its presence by opening two more in the region and three each in the Visayas and Mindanao. It also hopes to create around 100,000 jobs for Filipinos under a 2030 job generation goal in tandem with another Sia-led company, DoubleDragon Corp.
"When we set our vision and goals, we give [them] a lot of serious and deep thought, and once set, myself and our team pour our heart and soul towards that," company Chairman Edgar ''Injap'' Sia 2nd said in a statement.
The retailer is looking to generate consolidated systemwide sales of P150 billion by 2030, raising by 25 percent its initial target of P120 billion. It has 127 operational stores across the country and is also keen on enhancing its wholesale e-commerce platform which, as of Friday, was said to have more than 200,000 registered members. That number is expected to "grow to 500,000 this year and carry over 15,000 essential products that businesses, offices, and households consume," the company said.
On Friday, MerryMart shares were unchanged at P1.03 each while DoubleDragon shares were up 0.82 percent at P8.59 apiece amid a 0.15-percent rise in the benchmark Philippine Stock Exchange index.
Source: https://www.manilatimes.net/2024/02/24/business/corporate-news/merrymart-targets-2024-finish-for-laguna-center/1933862