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CEBU-based retailer Metro Retail Stores Group, Inc. (MRSGI) said it will start construction of seven new stores within this quarter in line with its goal to double its footprint by 2020.

The publicly held company recently opened its 51st store in Canduman, Mandaue City. Last year, it opened four stores, bringing its total gross floor area to 440,000 square meters.

In a statement issued after its anual stockholders meeting in Cebu, MRSGI chairman and chief executive officer Frank S. Gaisano said their continued expansion and strengthened partnerships with developers like Ayala Land, Inc. enabled the company to grow its footprint and serve more customers.

He said the retail sector remains one of the most vibrant industries locally as consumers enjoy higher disposable incomes.

“We have been able to deftly leverage on opportunities so we can look back with pride at our three and a half decade journey to become one of the leading names in the Philippine retail industry,” he said.

The company reported a 7.4-percent growth in net sales in the fourth quarter of 2016, "as numerous operational enhancements were put into place, resulting in a notable upswing in its hypermarket format."

For the whole year of 2016 - its 35th year of operation - MRSGI reported a 6.5-percent sales growth.

To streamline its operations and ensure timely delivery of goods, MRSGI is beefing up its logistics and supply chain modernization program. Aside from shifting to in-house management of its warehouses, MRSGI also embarked on systems modernization by opening up facilities, improving processes in its operations, ensuring optimized use of retail management software, and investing on greater personnel capabilities.

“We believe innovation and investments in our people, operations and processes are important in improving our business model,” said Arthur Emmanuel, president and COO, in the same statement.

MRSGI operates the Metro chain of department stores, supermarkets and hypermarkets in key cities in the Visayas as well as in Central Luzon, Metro Manila, and South Luzon. (Marites Villamor-Ilano/SunStar Philippines)