FILE PHOTO: The exterior of a 7-Eleven convenience store. Eric Thayer/Getty Images/Agence France-Presse
The Philippine licensee for 7-Eleven convenience stores said it has built over 4,000 stores in the country, a new landmark achievement for the Paterno-led company.
“Reaching 4,000 stores is an incredible milestone that reflects the trust and loyalty we’ve earned from our customers over the years. It’s also a tribute to the hard work and dedication of our team” Philippine Seven Corp. (PSC) co-founder and chairman of the board Jose Pardo said in a statement Tuesday.
Aside from achieving this record number of stores, the listed firm said it was also celebrating its 40th anniversary this year since it opened its first 7-Eleven store in the Philippines.
The first 7-Eleven store was opened back in February 29, 1984, at the corner of Edsa and Kamias Road in Metro Manila, according to the PSC.
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Meanwhile, the 4,000th 7-Eleven store is located in Newport District, Pasay City.
“Celebrating 40 years in the Philippines and opening our 4000th store is a significant achievement for us. It underscores our commitment to delivering convenience and exceptional service. We’re excited to keep serving our communities and look forward to the future,” said PSC president and chief executive officer Jose Victor Paterno.
In a press conference where the milestone was announced, PSC head of finance and investor relations Lawrence de Leon said they currently have 4,022 stores to date and that they are aiming to end 2024 with 4,100 branches.
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“Recently, we are seeing growth resuming in Metro Manila. That’s why in terms of market development plan, new stores are also anticipated to open,” he said.
Earlier in July, the company said it plans to spend P4.5 billion this 2024 to refurbish old stores while rolling out new ones
Luzon currently serves as largest market of 7-Eleven with nearly 3,000 stores, while Visayas and Mindanao have 552 and 410 stores, respectively.