Shakey's Sees Robust Year Ahead

Shakey's Pizza Ventures Inc., now a multi-brand food chain operator, expects to sustain its robust performance this year as it continues to expand Shakey’s Pizza, Peri-Peri Charcoal Chicken and Potato Corner.

Photo Insert: The last two months of the second quarter have shown “good trends” for Shakey's.

“I am excited for this coming phase of growth of our company. I think the prospects are (bright). I believe the Philippines will resume its pre-pandemic GDP growth trajectory of 5 percent or better these next few years, led by the resilient consumer sector,” said Shakey’s chairman, Christopher T. Po, during the firm’s annual stockholders’ meeting.

He noted that “This will be an attractive environment for us to expand our different businesses. Our team is gearing up for this, and we will work to realize our compounded mid-teens, or better, growth ambition.”

“In the case of Shakey’s, even as a standalone brand, we expect that that business can still grow double digits. Now in an environment like this where GDP is growing between 5-7 percent, most of that growth will be outside of NCR, so in Northern and Southern Luzon, Visayas, and Mindanao. But even as a brand, even if it's a market leader already in its category, we can still grow shaky spread double digits,” said Po.

In the case of Perri-Perri, he said the company plans to expand the brand significantly given its under-penetration of the market. “So definitely the brand can grow also double digits. It's just a matter of execution,” Po said.

He added that, meanwhile, Potato Corner has the potential for an “international” expansion. “So those three pillars, that's going to be keeping us very busy,” he said.

Shakey’s president, Gregorio Vicente, said that the last two months of the second quarter have shown “good trends.”

He added: “We think there is an opportunity and a chance this will continue for balance of the year. To date, I think we are still on track of the guidance that we've set for this year of at least a 20 percent increase in top line and bottom line.”

He said that “We are very confident the programs and actions we have taken place will already result in very good margin recovery, “ stressing: “By now, everyone must have seen that 2023’s first quarter results are very encouraging. Assuming no major external disruptions occur this year, I foresee us having another robust year this 2023.”

He also noted that “We intend to execute different 2023 strategic directions for each of our brands, but all will have the same long-term goals of scaling up profitably and sustainably to become leaders in the categories they compete in and remain true to the collective goal of creating a strong, healthy portfolio of WOW! Brands.”

Vicente concluded: “We are also excited with the inroads we have made in the area of our international business. With our newly-forged international team of young but very seasoned people, the future looks bright for our brands globally.”

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