Shakey's Pizza eyes US expansion

Shakey’s Pizza Asia Ventures (SPAVI) is looking to break into the US market with new expansion plans underway. According to media reports it announced the approval from its board of directors for the incorporation of a subsidiary in the US, according to its regulatory filing.

“The incorporated entity will be the group’s platform in its expansion plans in the territory, which will grow systemwide sales, revenues, and bottom line internationally via company-owned and franchised stores in the territory,” said SPAVI.

SPAVI is one of the leading chain restaurant and food service groups in the Philippines. In the first half of 2024, amid a soft consumer environment, the group sustained systemwide sales growth momentum. While earnings performance remained subdued, the group sees improvements in 2H as input costs improve, maintaining its mid-teens earnings growth outlook for 2024.

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SPAVI’s Systemwide sales in 1H24 reached Php 10.1 billion, registering a jump of 14% year-on-year (YoY). This was driven by new stores opened during the period and sustained growth in same store sales.   For the six month-period, the Group opened 210 new units, laddering up to a total network of 2,351 stores and outlets as at end June. Approximately 13% of its network is comprised of international units. Samestore sales growth clocked in at 2%, returning to pre-pandemic levels.

Vicente Gregorio, SPAVI president and chief executive officer, said, “We are grateful to be able to sustain our double-digit growth trajectory in these trying times. Our guests are more cautious because of persistent inflationary pressures, which is why it was very uplifting to see the celebratory atmosphere during special occasions such as Mothers’ Day, Fathers’ Day, and the graduation season.”

Gregorio also shared the Group’s emphasis on providing value to consumers to stimulate growth. “Providing value to consumers is an absolute. Apart from bundles and deals that our Group has always been actively pushing, we have been innovating our menu to cater to value-seeking guests and increase purchase occasions.”

Photo courtesy Shakey's Pizza, Facebook

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