SM Retail reported a net income for the first nine months of the year of Php4.1 billion, up 6.7% year on year, while sales increased 8.7% to Php110.8 billion. EBITDA amounted to Php7.6 billion, up 13.5% year on year, for an EBITDA margin of 6.9%. Net margin for the period stood at 3.7%
From January to September 2012, SM Retail grew its number of stores by a total of 25 stores, consisting of 5 department stores, 4 SM Supermarkets, 4 SM Hypermarkets, and 12 SaveMore stores. As a result, the group now has a total of 193 stores, consisting of 46 department stores, 37 SM Supermarkets, 34 SM Hypermarkets, and 76 SaveMore stores.
In line with improving consumer sentiment and economic growth, the group will be continually expanding its various store formats, with particular emphasis on SaveMore stores. This stand-alone store format, which is similar to a typical neighborhood grocery store, has gained wide market acceptance and serves communities marked by the absence of organized retail.
On the department store business, initiatives are being undertaken not only to improve the stores’ look and feel, but also to promote and enhance shoppers’ convenience. New store designs and lay-outs, as well as innovative display fixtures aimed at enhancing the presentation of merchandise collections are being introduced.
Also, in line with the department store business’s consumer focus, it has completed the roll-out of point-of-sale technology that would enable it to more efficiently manage high-volume, high value transactions involving complex promotional and pricing structures.