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Cebu-based retailer Metro Retail Stores Group Inc. said it will start construction of seven new stores in the second quarter of the year as part of the company’s five-year plan to double its footprint.
Metro Retail plans to double its gross floor area to 800,000 square meters by 2020 from 400,000 sq. m. in 2015 by opening 50 to 70 stores.
Metro Retail said in a disclosure to the stock exchange it recently opened its 51st store in Canduman, Mandaue City, after launching four in 2016, bringing its GFA to 440,000 as of end 2016.
“Our expansion and partnerships enable MRSGI to consistently grow its footprint and serve more customers,” Metro Retail chairman and chief executive Frank Gaisano said.
