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MRSGI Reports 6.1% Sales Growth

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MANILA, Philippines – Metro Retail Stores Group, Inc. (PSE:MRSGI) reported its income during the first three quarters of 2016 and highlighted its net sales growth by 6.1 percent.

The company registered a nine-month sales growth over last year to P23.7 billion. Alternatively, the same-store returns increased by 2.9 percent over the three quarters of the year.

The growth of same-store profit is due to the management’s control in spending and new strategies in solving corporate issues. The net revenues of all stores dropped by P70 million in 2015 due to operating losses in the third quarter amid the acquirement of two pre-existing Metro Manila department stores.

The company stated that it will pursue concentrating on efficient management of costs and augmenting sales to boost its profitability.

Frank S. Galsano, MRSGI Chairman and Chief Executive Officer, stated that it will be the company’s priority to increase store-level profit in the upcoming months as the management also endeavors to achieve their objectives in new markets and recently unveiled stores.

There is a significantly lower level of inventory on the balance sheet of MRSGI. The cash reserves also amounted to P2.878 billion and the company remains free from borrowings cost. The group retains its robust fiscal status to move towards its plans of expansion and enhancement of stores.

The management is also looking forward to increase its gross floor area (GFA) to 800,000 square meters in a five-year plan, which is twice the existing measure. Forty percent of the target, which is equivalent to 160,000 square meters, has been secured. It is anticipated to open in the next couple of years.

Ayala Land partnership was also reckoned by the company for new stores development in four new commercial developments of Ayala. Areas concerned are Metro Manila, Bacolod, Iloilo, and Cebu.

MRSGI is a subsidiary of Vicsal Group, which includes Taft Properties and HT Land, which is a joint venture between HongKong Land and Taft. In addition, the parent company also covers Wealth Bank, which is jointly owned by Korea’s second largest bank, Woori Bank.

On August 28, 2003, the company was incorporated and registered with the Securities and Exchange Commission (SEC). It is originally named as Valueshop Market Market, Inc. The initial purpose of the company is to buy, sell, and trade goods. Other than goods, merchandise, wares, and miscellaneous items that could bear on supermarket, department store, and hypermarket operators are covered by the company. The company’s change in name to MRSGI was approved by SEC on July 3, 2014.

Here’s some additional pieces of information on MRSGI.

Top 10 Players’ Sentiment

Participants with a 100% Buying and Selling Activity from Nov-02-2016 to Nov-15-2016 at 02:31PM:

  • 29 out of 76 participants or 38.16% of all participants registered a 100% BUYING activity
  • 8 out of 76 participants or 10.53% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 4.2248
  • Top 10 Players’ Selling Average: 4.2264

MRSGI - METRO RETAIL STORES GROUP - Top 10 Players' Sentiment - November 15, 2016

30-day Foreign Fund Flow

On a 30-day trading period, MRSGI is on a Net Foreign Selling worth PHP96,079,928.00.

MRSGI - METRO RETAIL STORES GROUP - Foreign Fund Flow - November 15, 2016

Risk Level

MRSGI’s risk level is set to moderate based on our proprietary risk level indicator.

MRSGI - METRO RETAIL STORES GROUP - Volatility - November 15, 2016

Volume

After laying low for almost 2 weeks, MRSGI’s volume recovered and registered a volume that was higher than its 30-day volume average yesterday, November 14, 2016.

MRSGI - METRO RETAIL STORES GROUP - Volume - November 15, 2016

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