BY ANGPING & ASSOCIATES SECURITIES
Philippine Seven Corp. is hiking its spending to PHP 3.0 billion from the PHP 2.0 billion last 2014 to support its aggressive store expansion plans.
The higher budget would support its accelerated store expansion strategy that entails the opening of 500 new stores.
PSC ended last year with 1,282 7-Eleven stores across the country, 273 stores or 27.0% more compared to its store count a year earlier.
The company is eyeing to ramp up its presence in major cities of Mindanao and other major cities in the Visayas such as Dumaguete, Capiz and Aklan, targeting to open 120 stores.