January 24, 2018, 9:42 am
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Pizza chain to open 20 more stores

Shakey’s Pizza Asia Ventures Inc. said it plans to add  20 more stores this year as it increases its network around the country to 228 by the end of the year. 

Last year, Shakey’s opened 24 branches, exceeding its target of 20 stores.

“It has been a banner year for Shakey’s --  our maiden year as a publicly listed company – as this is the fastest we’ve grown in terms of store network,” said Vicente Gregorio, Shakey’s president.

“We have a strong belief in our brand and our strategy, and are keeping pace with the accelerating growth of our economy,” Gregorio added.

In 2017, Shakey’s successfully opened stores in provincial locations including Iligan, Puerto Princesa, Antique, Gapan and Palo, Leyte, following the growing urbanization trend in these areas.

It also started to roll out redesigned interiors for its newer branches which  took the American family casual dining concept to another level.

Shakey’s recurring net income in  the first nine months of 2017 grew 15 percent from the same period  last year. 

System-wide sales also rose 15 percent  driven by same-store sales growth of 6 percent and an expanding local store network. 

Apart from the Philippines, the local Shakey’s also owns the perpetual rights to the Shakey’s brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia, and Oceania.
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