6 days ago
7-Eleven PH to open warehouses in Zamboanga, Leyte for VisMin expansion
Philippine Seven Corp. (PSC), the exclusive licensor of the 7-Eleven convenience store chain in the country, is putting up distribution centers or warehouses in two key cities in the Visayas and Mindanao as part of its P5.5-billion capital expenditure program to open 500 new stores this year, most of which will be located in the southern island groups of the country.
"More than half of those are in VisMin," PSC chairman Jose Victor Paterno told reporters at a briefing in Pasay City on Thursday.
The company is eyeing to ride on the growth of consumer demand in the Visayas and Mindanao areas, which Paterno earlier described as a "post-pandemic phenomenon."
PSC had earlier announced plans to open 500 new stores in 2025 and hit 5,000 stores in 2026. The company ended 2024 with 4,130 stores—1,974 of which were franchise stores, and the remaining 2,156 company-owned.
"This quarter, we will be opening a distribution center in Zamboanga City… then in the fourth quarter, there's another one in Ormoc City to support our push to VisMin," PSC head of finance Lawrence de Leon said.
De Leon said the opening of distribution centers in Zamboanga City and Ormoc City forms part of PSC's P5.5-billion capital expenditure for 2025.
The PSC executive added that the company wants to take advantage of lack of competition and low rental rates in the VisMin for its expansion in southern Philippines.
In 2024, PSC posted a net income of P3.81 billion, up 9.4% on the back of 13.8% growth in system-wide sales amounting to P93.5 billion. — VDV, GMA Integrated News
