Philippine Seven Corp (PSC), the company that operates 7-Eleven stores domestically, has plans to significantly increase the number of outlets across the country by next year. The ambitious goal is to expand their current network to an impressive 5000 branch total.
During a recent press briefing, PSC Chairman Jose Victor P Paterno confirmed that the company is well on its way to reaching this considerable goal. He expressed confidence by stating it was “safe to say” that the 5,000-store landmark will be achieved by next year.
As it stood at the close of last year, PSC was operating 4,130 7-Eleven stores throughout the Philippines. This indicates an intent to open between 450 and 500 new outlets over the course of this year.
The expansion will be facilitated by a PHP5.5-billion (US$97 million) capital expenditure program. Although this is somewhat less than the previous PHP6-billion allocation, it is by no means a small investment.
The planned growth of 7-Eleven outlets is not just about increasing numbers. PSC’s strategy is to target areas that are currently underserved in terms of retail, responding to the growing nationwide demand for retail options that are both accessible and convenient.
What is the goal of Philippine Seven Corp (PSC) for their 7-Eleven outlets by next year?
The company aims to expand its current network to a total of 5000 stores nationwide.
How many new 7-Eleven stores does PSC plan to open this year?
PSC plans to open between 450 and 500 new outlets over the course of this year.
What is the strategy behind PSC’s expansion of 7-Eleven outlets?
The expansion is part of a broader strategy to reach underserved markets and respond to increasing demand for accessible and convenient retail options nationwide.
