Philippine Seven Corp., the local licensee of the globally recognized 7-Eleven convenience store chain, has announced an ambitious plan to open approximately 500 new stores throughout the Philippines in 2025. The expansion will require a significant capital investment, estimated between P5 billion and P6 billion, as the company seeks to broaden its presence in urban centers across the nation.
According to Lawrence M. De Leon, head of the finance and accounting services division at Philippine Seven, the company is on track to achieve its target of opening 450 new branches by the end of this year, which will elevate its total store network to 4,100 locations. As of the third quarter, Philippine Seven has already established 4,022 stores, with 270 new outlets launched by the conclusion of September.
De Leon said the positive sales performance of recently opened stores has bolstered the company’s confidence in meeting its ambitious growth target. “We have a lot of stores in the pipeline, so we are confident that we can achieve the 450 new stores target. This year, most of the stores are located in residential clusters since the pandemic changed consumer behavior,” he said.
Jose Victor P. Paterno, president and CEO of Philippine Seven, emphasized the strategic focus on expanding beyond Metro Manila. He highlighted the burgeoning demand in regions such as the Visayas and Mindanao, where the company operates a robust logistics network. “It’s basically outside (Metro Manila). The demand is outside. It’s also where competition is. In the Visayas and Mindanao, we’re the only ones with the logistics network,” Paterno said.
The company’s recent performance reflects this strategic focus, a 14 percent income increase in the first half of the year totaling P1.76 billion, up from P1.55 billion in the year earlier period. Additionally, system-wide sales saw an 18 percent increase, amounting to P45.9 billion.
Paterno also noted the changing consumer shopping behavior, saying that the shift to remote work has influenced purchasing patterns. “People are shopping closer to home since they are already working from home. When they shop close to home, they buy different things than when they’re shopping from work. That’s how we make the stores, by carrying only what the customers want in that location. We’re able to identify what’s needed,” he said.
The strategic expansion and the company’s responsive approach to evolving consumer needs position Philippine Seven to capitalize on growth opportunities in the dynamic convenience store sector.
