Paterno family benefits from growing purchasing power, fast-paced lifestyle
Leading local convenience store operator PhilSeven Corp. maintained healthy growth in the nine months ending September, buoyed by an aggresive expansion and Filipinos’ changing shopping habits.
Convenience stores have gained widespread popularity amid increasing demand for convenient shopping.
PhilSeven, which is operated by the Paterno family, grew its nine month profit by 25 percent as systemwide sales expanded by 24 4 percent to P23 billion.
The company attributed the uncrease in sales to new store openings.
The number of operating stores increased by 24.4 percent or by 361 stores.
As of the end of September this year, PhilSeven had 1,,840 stores across the country – 1,537 in Luzon, 218 in Visayas, and 85 in Mindanao