Shakey’s Pizza Venture Inc. plans to expand its casual dining brands Shakey’s Pizza, Perri-perri Charcoal Chicken and Potato Corner to more areas as it expressed confidence of hitting 20 percent growth both in topline and bottomline.
Christopher Po, Shakey’s chairman, said each of the company’s brands has enough runway for growth.
“In the case of Shakey’s, even as a standalone brand, we expect business can still grow double digits. In an environment like this where GDP is growing between 5 and 7 percent, most of that growth will be outside of NCR (National Capital Region), in Northern and Southern Luzon, Visayas, Mindanao. As a brand, even if it’s a market leader in its category, we can still grow Shakey’s double digits,” said Po.
The company plans to expand Peri-Peri Charcoal Chicken significantly given its market under-penetration.
“Definitely the brand can grow also double digit. It’s just a matter of execution,” Po said.
Po said Potato Corner which operates more on a kiosk format has potential for international expansion.
Vicente Gregorio, Shakey’s president, said the last two months of the second quarter have shown good trends.
“There is… a chance this will continue for the balance of the year. 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,” Gregorio said at yesterday’s stockholders meeting
“We are very confident the programs and actions we have taken will result to very good margin recovery,” he said. – Ruelle Castro
