LISTED food service group Shakey鈥檚 Pizza Asia Ventures, Inc. said on Thursday that its Peri-Peri Charcoal Chicken and Sauce Bar opened new outlets in September.
In a media release, Shakey鈥檚 President and Chief Executive Officer Vicente L. Gregorio said that to date, Peri-Peri has 60 outlets in the Philippines.
鈥淥ver the last two years, we have witnessed significant growth from Peri-Peri, despite the headwinds brought about by the pandemic. We see opportunities to further its market penetration. For us, strategic expansion is key 鈥 having the right stores in the ideal locations with apt formats,鈥 Mr. Gregorio said.
Shakey鈥檚 said Peri-Peri opened its newest store at the Clark International Airport, the first airport outlet of Peri-Peri. Last month, Peri-Peri opened its 60th store in Malate.
The casual dining restaurant chain was acquired in 2019 with just 29 stores. Peri-Peri is the second largest chain of Shakey鈥檚, which has the Gokongwei group as a strategic investor.
For the fourth quarter, Mr. Gregorio said Shakey鈥檚 is preparing for the holiday season, which it expects to be a 鈥渞obust period鈥 as pandemic mobility restrictions have eased.
鈥淭his year, we are expecting to see even more revenge spending in the coming months because of reunions and gatherings. It will be celebratory. We鈥檙e already preparing our stores for functions and expanding our footprint to seize this opportunity,鈥 Mr. Gregorio said.
At the stock exchange on Thursday, Shakey鈥檚 shares closed unchanged at P7.50 apiece. 鈥 Ashley Erika O. Jose
