Coffee shop and casual dining operator Figaro Coffee Group Inc. expects to double its sales from top brands like Angel’s Pizza as more Filipino are seen dining out in the run up to the Christmas holidays. Divina Gracia G. Cabuloy, company president and CEO, said its coffee shop which also offers rice, pasta and sandwiches, is marketed differently from all other cafes.
During the long Barangay and Sangguniang Kabataan elections all the way to All Saints’ and All Souls’ day weekend, sales were seen rising 60 percent or even double its usual daily revenue take. According to the executives, Angel’s Pizza should post 50 percent to 60 percent higher daily sales during the long weekend.
In December, sales could jump as high as 80 percent more even though prices have been adjusted 5 percent to 10 percent higher. “We’ve done some price increase, but not all products. We cannot increase so much because we are also consumers and we don’t want to sell expensive products. We are giving good quality and value for money products to our customers,” Divine Cabuloy, Figaro chief executive, said.
The company reported net income growing 133 percent for fiscal year ending June to P462.6 million from last year’s P198.2 million. Revenue for the year rose 75 percent to P4.28 billion from last year’s P2.44 billion, as same store sales grew 6 percent.
