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7-Eleven to open 370 stores this year


Philippine Seven Corp. (PSC) — the franchise holder of 7-Eleven in the Philippines — on Thursday said it is set to open 370 more stores this year, as it is set to reach the 3,000 by next year.

In a press conference in Pasig City, PSC President and CEO Jose Victor Paterno said most of the new stores will be opened in Metro Manila.

"We continue to prioritize expansion as our primary objective," he said, noting that the company is currently processing some 1,000 store franchise applications.

"We have a long list of applications. We're going slow... We have a list of 1,000 applicants. We expect to have another 100 by the end of the year," he said.

PSC ended 2017 with a total of 2,285 stores, up by 14.5 percent from the 1,995 in 2016 after its entry into new markets such as Bohol, Compostela Valley, Agusan del Norte, North Cotabato, and Baler.

This year, the company said it plans to put up a distribution center in Mindoro which could also fuel store growth in the area.

"Later this year, we'll be going to Mindoro... We might put up a distribution center which would allow more stores," said Paterno.

"Maybe next year. Next year we'll be close to 3,000 [stores]." —KBK, GMA News

Tags: 7-eleven
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