7-11 sees 1,000 stores by 2013
Feb 25, 2013
Philippine Seven Corp., owner of convenience store chain 7-Eleven, is expanding its coverage to more provinces as the company seeks to open a store in Laoag City.
Jose Victor Paterno, Philippine Seven president, said Laoag will be the latest in new areas that Philippine Seven is going into and will be the farthest north in geographical terms as the company seeks to bring its total store network to 1,000 by 2013.
Recently, the company started expanding its footprint in Cebu, opening eight stores since July 14 with an eye to bring it to 30 by year end.
Paterno said eight stores have already been opened so far with two more by the end of the month.
Philippine Seven also opened stores in Bicol and La Union recently as the company sought to expand its store network.
Paterno has expressed confidence that the company will continue to be profitable in the business as profit for the first half of the year reached P164.3 million, 38 percent higher than last year.