SM Retail revenue rises 13% in Q1
Philippines multi-format operator SM Retail has reported a rise in Q1 2019 retail revenues of 13.0% to PHP79.0 billion (USD 1.4 billion). Net income rose 5.0% to PHP2.7 billion (USD 51.7 million). Revenues from SM Retail’s specialty retail stores grew by 13.0%.
At end of the quarter, SM Retail had a total of 2,385 stores comprising 63 department stores, 1,388 specialty retail stores, 57 SM Supermarkets, 53 SM Hypermarkets, 194 SaveMore, 52 WalterMart, and 578 Alfamart stores.