Gaisanos to build first retail store in Negros Oriental
Metro Retail Stores Group Inc. of the Cebu-based Gaisano clan, is building its first store in Negros Oriental in line with its goal to double its footprint in five years.
In a statement, MRSGI said it inked a 25-year building lease agreement with the local government of Bais, Negros Oriental.
The building, targeted for turnover in March next year, will be converted into a hypermarket offering food and general merchandise.
?We are very much excited to serve the growing city of Bais, and we see a lot of opportunities for mutual growth,? said MRSGI chairman and CEO Frank S. Gaisano, adding that the expansion is in line with efforts to solidify its foothold in the Visayas.
The store is expected to serve the neighboring municipalities of Manjuyod, Mabinay, Ayungon, Bindoy, and Tayasan.
Located 45 kilometers away from Dumaguete City, Bais hosts several sugar mills and is one of Negros Occidental?s largest producers of raw sugar.
MRSGI operates 49 supermarkets, department stores, and hypermarkets
It recently inked an agreement with Ayala Land Inc. to put up stores in four new Ayala commercial developments in Capitol Central in Bacolod City, Negros Occidental; in Mandurriao, Iloilo City; in Central Bloc in Cebu City; and in the Ayala Malls Feliz in Pasig City.
The company reported a 69.2 percent jump in profit in the first quarter, driven by strong same store sales and all-store net sales.
Its stores are present in key cities in Central, Western and Eastern Visayas, as well as in Central Luzon, Metro Manila, and South Luzon.