SM Retail opening 30 outlets
The SM Retail Group plans to open 20 to 30 supermarkets this year to keep its position as the leading supermarket chain in the country.
SM Retail executive vice president Robert Kwee said in an interview the company would launch mostly Savemore stores, which are stand-alone retail shops that cater to the mass market.
Kwee said the company was also looking for possible acquisitions to strengthen its leadership in the supermarket industry, which is being challenged by the rapid expansion of Puregold Price Club Inc. of businessman Lucio Co.
SM Retail as of end-2012 had 156 supermarkets, including 37 hypermarkets and 82 Savemore outlets. Including the 46 department stores under the retail group, SM Retail operates a total of 202 outlets.
The SM group in January signed joint venture agreement with the Waltermart Group of Companies of the Lim family.
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