Shakey's Philippines to take 'measured pricing action'

Shakey’s Pizza Asia Ventures Inc. (SPAVI) on Thursday said it would take “measured pricing action" following the double-digit drop in its first-quarter net income as the company faces shifting landscapes amid high business costs brought about by the Middle East crisis.

According to SPAVI president and chief executive officer Vicente Gregorio, the company is working to lower costs while it considers adjustments to the pricing of its product offerings.

“As we navigate 2026, what is clear is that the imperative to build a more resilient business has never been more pressing since the pandemic. We’re building resilience on two fronts,” he said in a regulatory filing.

“Near-term, we are proactively optimizing general and administrative costs and driving savings across operations. Measured pricing action will be taken, balancing the realities of a higher cost environment with the needs of our guests,” he added.

Shakey’s first-quarter core net income fell 17% to P152 million from P182 million last year, as systemwide sales grew 14% to P6.383 billion while cost of sales expanded by 14% to P3.196 billion.

The company ended the first quarter with 3,039 units in its global store network, of which 16% are located on international shares.

“With much uncertainty in our operating environment, we need to be choiceful in our deployment of resources. We are investing continuously, albeit more moderately,” Gregorio said.

“This means building accretive stores with higher hurdle rates. To ensure that we are using capital efficiently, we are reviewing our store network strategy so that this strategic pillar continues to create shared value as we progress,” he added.

Shakey's Pizza Asia operates the brands Shakey's, Potato Corner, Peri-Peri Charcoal Chicken and Sauce Bar, R&B Milk Tea, and Project Pie.

Shares in the company were last trading at P6.30 apiece, down by P0.02 or 0.32% from Wednesday’s finish of P6.32. —VBL, GMA News