Shakey’s Pizza Asia Ventures, Inc. muscled through a tough spending climate, posting a 14 percent jump in nine-month consolidated sales as its aggressive global expansion continued to pay off.
System-wide sales hit P17.7 billion, while revenues climbed 12 percent to P11.2 billion, with new stores doing the heavy lifting amid still-soft consumer appetite.
Shakey’s fired up its network rollout, opening 188 new stores and ending the period with 2,807 outlets worldwide. Same-store sales barely budged, up just 1 percent, highlighting the drag from a muted discretionary spending environment.
Momentum carried into the third quarter. Quarterly SWS rose 12 percent to P6.1 billion, buoyed by 89 newly opened outlets.
But weather disruptions and shifting seasonality—after graduation ceremonies moved from the third quarter of 2024 to the second quarter of 2025—pulled same-store sales down 2 percent. Still, third-quarter revenues improved 9 percent to P3.8 billion.
“With consumer demand muted, delivering growth was an uphill climb,” said President and CEO Vic Gregorio. “Our portfolio of brands helped us weather a subdued market, and we remain focused on scaling our network while keeping our brands relevant and value-driven.”
Profitability took a hit as expansion costs piled up. Gross margin slipped to 22.6 percent, down 170 basis points. Tighter cost controls offered some relief, with operating expenses improving by 70 basis points as a share of sales.
Headline net income reached P570 million, while core net income—stripping out one-off items—came in at P650 million, translating to a 5.8 percent core net margin.
