Shakey’s Pizza Venture Inc., which owns the brand in the region, is confident of hitting a growth of 20 percent both in its topline and bottom line this year.
Christopher Po, Shakey’s chairman, said each of the company’s brands—Shakey’s Pizza, Peri-Peri Charcoal Chicken and Potato Corner—have enough runway for growth.
“In the case of Shakey’s, even as a standalone brand, we expect that that business can still grow double digits. Now in an environment like this where GDP is growing between 5 percent to 7 percent, most of that growth will be outside of NCR, so in Northern and Southern Luzon, Visayas, Mindanao. But even as a brand, even if it’s a market leader already in its category, we can still grow double digits,” Po said.
Shakey’s acquired Peri-Peri Chicken with 21 stores in 2019, tripled that number to 68 stores but plans for more expansion given its market under-penetration.
“Definitely the brand can grow also double digit. It’s just a matter of execution,” Po said.
For Potato Corner, which has more of a kiosk market presence, has the potential for an international opportunity “that’s going to be keep us very busy,” according to Po.
Vicente L. Gregorio, Shakey’s president and CEO, said the last two months of the second quarter have shown good results for the brand.
“We think there is an opportunity and a chance this will continue for balance of the year. To date, I think we are still on track of the guidelines that we’ve set for this year of at least 20 percent increase in top line and bottom line,” he said.
Shakey’s system-wide sales in the first three months hit P4.2 billion, increasing by 88 percent from last year and exceeding pre-pandemic levels by 79 percent.
Net income for the period reached P201 million, 2.6 times its earnings last year. Net margin expanded by 170 basis points to 6.4 percent.
