Publicly-listed Metro Retail Stores Group, Inc. (MRSGI) readies to put into action its business continuity and risk management plans traversing new normal market change.
MRSGI chairman and CEO Frank Gaisano reported that the company capped 2019 with an operating income growth of 21.5 percent from the previous year at P 1.06 billion. This was on the heels of a P36.8 billion sales representing an 11.3 percent increase, coupled with a more tempered growth in operating expenses at 9.3 percent.
“2019 was a year of recovery and rebuilding for MRSGI. As we geared up for 2020 with optimism, little did we know that we were to face yet another challenging situation,” Gaisano expressed.
Network-wide same-store sales expanded by 2.2 percent for 2019 driven by the improving performance of new comparable stores.
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