Metro Retail Stores Group Inc. (MRSGI) netted a P181.9- million loss in the first half of the year, up 114.76 percent from last year’s P84.7 million loss.
Revenue reached P13.9 billion.
“Total food retail business for the first semester of the year contracted by 11.3 percent, while general merchandise business declined by 1.7 percent over the same period last year,” MRSGI said.
“Blended same store sales decreased by 13.9 percent over the same six-month period last year mainly due to stringent quarantine measures imposed last March to May that lowered customer traffic in physical stores,” it added.
The company however stressed that it remains among the “top retailers in the country.”
Earnings before interest, taxes, depreciation, and amortization (EBITDA) was at P550.5 million.
