Shakey’s targets 20 more branches in 2018

Shakey’s Pizza Asia Ventures, Inc., the Philippines’ leading chained fullservice restaurant, is planning to add a net of 20 stores this year after opening 24 branches in 2017 — exceeding its 20 store target.

In a disclosure to the Philippine Stock Exchange, Shakey’s said meeting the 2018 target will bring its total Philippine store network to 228 at the end of this year.

“It has been a banner year for Shakey’s – our maiden year as a publicly listed company – as this is the fastest we’ve grown in terms of store network,” said Shakey’s President Vicente Gregorio.

He added that, “we have a strong belief in our brand and our strategy, and are keeping pace with the accelerating growth of our economy.”

“We will continue to take advantage of the positive consumer sentiment in the Philippines and hope to open even more stores, including those outside the typical first tier cities,” noted Gregorio.

In 2017, Shakey’s successfully opened stores in provincial locations, including Iligan, Puerto Princesa, Antique, Gapan, and Palo, Leyte, following the growing urbanization trend in these areas.

The company has also started to roll out redesigned interiors for its newer branches which will take the American family casual dining concept to another level.

“As the Filipino is now looking for more premium dining experiences, we are driven by our mission to consistently ‘wow’ them. This includes upgrading our look, launching innovative products, and emphasizing a high quality of service,” said Gregorio.

Shakey’s recently reported that recurring net income for the first nine months of 2017 grew by 15 percent versus the comparable period last year. System wide sales rose by 15 percent as well, driven by same store sales growth of 6 percent and an expanding local store network.

Apart from the Philippines, the local Shakey’s also owns the perpetual rights to the Shakey's brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia, and Oceania.