Tag Archives: SM Retail

Green light for SM Retail merger

SM Retail

(Source: Inside Retail Philippines |14 July 2016) SM Investments has obtained the approval of the Securities and Exchange Commission for the merger of Sy family-owned specialty stores into SM Retail Inc. To be merged with SM Retail’s food and department stores are a wide ranging portfolio of leading local brands such as Ace Hardware, Watsons, Toy Kingdom, SM Appliances, Our ...

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SM starts consolidating retail businesses

OUR HOME is one of several retail stores to be consolidated under SM Retail, Inc. -- (FACEBOOK.COM/OURHOME.PH)

(Source: Business World | 29 February 2016) Henry Sy, Sr., the Philippines’ richest man, is merging his retail assets under SM Retail, Inc. that will form an even larger business with nearly 2,000 stores and more than P260 billion in revenues, a move aimed at capitalizing on synergies amid tighter competition in the industry. The Sy family will fold in ...

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SM goes full swing with minimart venture

Alfamart store4_1

(Source: The Philippine Star, by Richmond Mercurio | Aug. 17, 2015) SM Retail Inc., the retail unit of mall and banking conglomerate SM Group of tycoon Henry Sy, is ready to go full swing with the expansion of its minimart venture with Indonesian giant Alfamart. In an interview, SM Retail president Jorge Mendiola told The STAR the company is set ...

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SM buys Cherry’s 3 grocery outlets

Cherry Foodarama

(Source: By Jenniffer B. Austria | Manila Standard Today | Jun. 08, 2015) The group of tycoon Henry Sr. has acquired supermarket chain Cherry Foodarama, considered one of the pioneers in the domestic retail industry, in a move that is expected to further strengthen the conglomerate’s leading position in the business. Informed sources said the Sy Group acquired three supermarkets under ...

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SM Store joins shopping evolution in online retail site

sm_logo_1.preview

(GMA News Online | By Danessa O. Rivera | Dec. 15, 2014) The evolution of shopping via e-commerce has prompted the retail arm of SM Group to launch its own online presence. The thesmstore.com went live Monday, and the company plans to have nationwide coverage in 2015. “Our commitment is to provide convenience and accessibility to our customers through innovation. ...

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SM posts USD405.6m net income in first 9 months of 2014

Source: Retail In Asia | Wed, 2014-11-12 06:30 SM Investments Corporation (SM) reported a net income of PHP18.2 (USD405.6 million) billion for the first nine months of 2014, up from PHP18.6 billion (USD414.5 million) during the same period last year. It said retail contributed 19 percent to the consolidated net income, while banks and property accounted for 41.9 percent and 39.1 ...

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