PHILIPPINE SEVEN Q1 INCOME DOWN 7.4%
Listed Philippine Seven Corp.(PSC), the largest convenience store in the country, saw its first quarter income drop by 7.44% to P230.2 million on account of the Taal volcano eruption and the March ECQ that affected many of its stores.
Now with total convenience stores of 2,916 convenience stores, the company said it has already strengthened its logistics capability over the last five years as it prepares to ramp up its presence in far-flung areas.
It now has 14 operating distribution centers (DC) nationwide with six in Luzon, five in Visayas and three in Mindanao. It said that “first movers, especially on islands that cannot sustain more than one DC, will be rewarded with dominant market share.
System-wide sales actually went up by 12.7 % from P12.5 billion to P14.1 billion but it opened 59 stores against seven closures during the period and it supplied PPE to its employees and made available disinfectants , cleaning supplies and food supplements to them.