Tag: SM

Retail Asia11/08/2020
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4min0
Aptos, a recognized market leader in retail technology solutions, today announced that The SM Store, the largest department store chain in the Philippines, will deploy Aptos Merchandise Financial Planning to optimize its omnichannel merchandising strategies. The solution will provide end-to-end support for the retailer’s merchandise planning activities across its bricks-and-mortar and online channels. The SM […]

Retail Asia06/05/2020
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1min0
Philippine shopping mall SM Aura Premier has launched an online shopping service for customers facing restrictions on movement during the coronavirus pandemic. The Aura Concierge system allows customers to select a method of receiving essential goods, including curbside and drive-through pick-up. Online users can connect to businesses via social media or directly to order products […]

Retail Asia24/03/2020
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3min0
As the community quarantine continues all over Luzon, Philippine conglomerate SM Group has committed to maintaining regular pay for all of its employees, without deductions from their vacation or sick leave entitlements. The company will also give a US$97.64 (Php5000) additional payment to security staff and janitors, who the company describes as front liners. Hans […]

Retail Asia30/09/2019
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2min0
SM Prime Holdings is launching a new lifestyle mall in Zambales, the Philippines. The firm’s 73rd shopping mall in the territory, a 72,000sqm four-story complex, will open in Olongapo city’s CBD with 85 percent tenant occupancy confirmed so far. It is SM Prime’s second lifestyle mall in Olongapo. “Olongapo City remains one of the fastest-growing […]

Retail Asia29/05/2019
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1min0
SM Retail has achieved a first-quarter profit increase of 5 percent to P2.7 billion (US$51.7 million). Retail revenues in the first three months rose by 13 percent year-on-year to P79 billion, while sales from specialty retail stores grew by the same percentage to P19.6 billion. As at the end of March, SM Retail had 2385 […]

Retail Asia29/05/2019
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1min0
Philippine property giant SM Prime Holdings says its net income in the first quarter increased 16 percent based on higher rental income and residential sales. Gross earnings increased 14 percent to PHP26.5 billion (US$508.1 million) during the time period, while total outgoing grew 11 percent to PHP13.6 billion ($260.7 million). Net income attributable to shareholders […]

Retail Asia10/05/2019
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1min0
Philippine property developer SM Prime Holdings has committed PHP80 billion (US$1.53 billion) for constructing four new malls, residential units and mixed-use spaces this year. The additional capital is intended to support expansions that include opening an additional 200,000sqm of retail space in “developing provincial cities”, including Pangasinan, Zambales, Butuan and Zamboanga. As at the end […]

Retail Asia23/01/2019
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2min0
The founding father of Philippine retail, Henry Sy, has passed away. Sy, who has topped the Philippines Rich List for the last seven years, was chairman emeritus of SM Investments, one of the country’s largest business conglomerates. A Chinese immigrant who arrived in the Philippines at the age of 12 with his parents, his introduction […]

Retail Asia22/11/2018
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2min0
Ikea Philippines says its first store will take up an enormous 65,000sqm space, making it the world’s largest. The current largest Ikea store globally opened in Seoul in December 2014 and takes up 59,000sqm. Local franchisor Inter Ikea Systems, which operates the homewares and furniture retailer in Malaysia, Singapore and Thailand, chose to partner with […]

Retail Asia08/06/2018
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3min0
Active lifestyle smartwatch Garmin Philippines will introduce its expanded line to the Philippine market and open another location this year in Vertis North Mall Quezon City and its first-ever branch in Mindanao at the SM Lanang Premier (Davao). Garmin Philippines (Navco Inc.) president Ryan Tan says the expanded range is made for any kind of […]

Retail Asia06/04/2018
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4min0
Ikea Philippines will open its first store next to Mall of Asia in Manila in 2020. Inter Ikea Systems announced in February it had appointed Ikea Southeast Asia (Ikano) as Philippine franchisee, the same company that holds the rights to Singapore, Thailand and Malaysia. In an exclusive interview with Inside Retail Asia, Ikea Southeast Asia MD Christian […]

Retail Asia05/02/2018
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1min0
SM Retail, a subsidiary of SM Investment Corporation (SMIC), has called off a planned acquisition of Goldilocks Bakeshop chain in the Philippines. This follows the Philippine Competition Commission (PCC) approving the takeover just last month. Citing changes in the business environment, SMIC corporate secretary Elmer Serrano has confirmed that SM Retail has backed out of the deal, […]

Retail Asia12/01/2018
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3min0
SM Retail has received approval from the Philippines antitrust body to acquire the Goldilocks Bakeshop chain. This follows the two parties submitting commitments to address potential competition issues in the deal, says the Philippine Competition Commission (PCC). SM Retail is a subsidiary of SM Investment (SMIC), which through another subsidiary, SM Prime Holdings (SMPHI), runs […]

Retail Asia22/12/2017
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1min0
Philippine integrated property company SM Prime Holdings has opened a mall in Batangas to continue its expansion in southern Luzon. SM Center Lemery adds 25,000sqm to SM Prime’s total gross floor area in the Philippines, and follows SM City Batangas and SM City Lipa. It opened with nearly 90 per cent of space leased. There […]

Retail Asia05/12/2017
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SM Prime Holdings has continued its expansion in northern Luzon with its latest mall, SM Center Pulilan, in Bulacan. Its 66th mall in the Philippines, it adds 27,000sqm in gross floor area (GFA), taking SM Prime’s total GFA to 8 million sqm. Opening with 80 per cent occupancy, SM Center Pulilan offers three levels of […]

Retail Asia24/11/2017
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9min
Howard Sy, the grandson of Chinese-Filipino retail magnate Henry Sy Sr, is on a mission to establish his own business empire and he is starting with self-storage. Last year, the millennial businessman launched StorageMart, a self-storage service for individuals, households, and businesses. Howard said he is looking to expand to all the major cities in Metro […]

Retail Asia08/11/2017
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2min0
Rental revenues from mall expansions and consistent improvement in same-mall sales have helped boost income for integrated property company SM Prime Holdings. For its third quarter, the company had 16 per cent year-on-year net income growth to PHP5.6 billion (US$110.5 million). This led to a 15 per cent increase in net income in the first […]


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