Metro Retail earnings surge 93% in first quarter

MANILA, Philippines — Metro Retail Stores Group Inc. (MRSGI) nearly doubled its first-quarter earnings as stronger margins and steady consumer demand boosted the retailer’s performance at the start of 2026.

The Gaisano-led grocery retailer said Monday its consolidated net income after tax surged by 92.5 percent to P25.8 million in the January-to-March period from a year ago.

Consolidated net sales rose by 5.4 percent to P9.38 billion, supported by growth across all major business segments.

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Food retail remained the company’s primary growth driver after sales in the segment climbed by 6.3 percent during the quarter. General merchandise sales also increased by 2.5 percent.

Same-store sales likewise posted a 2.9-percent increase, indicating steady customer demand across MRSGI’s existing store network.

The company said gross margin improved to 21.7 percent from 21.3 percent previously, driven by a favorable category mix and stronger performance in the food retail business.

Operating expenses, however, increased by 6.6 percent to P2.15 billion, due mainly to costs tied to store expansion, network scaling, and the ramp-up of newly opened and renovated stores.

Despite higher expenses, earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed by 14.9 percent to P474.7 million.

MRSGI also continued to expand partnerships within its retail ecosystem.

During the quarter, the company launched the pilot rollout of Generika Drugstore outlets in select MRSGI branches as part of efforts to integrate essential services into its store network.

The first pilot stores were opened in Ayala Feliz and Tagaytay, with the company planning to launch around a dozen more locations before year-end.

“MRSGI delivered a steady start to 2026, supported by continued sales growth and improved margins across our core categories,” said company president and chief operating officer Joselito Orense.

Orense added that the retailer continued to strengthen its network in key growth areas while managing costs and improving operational efficiency.

MRSGI currently operates 81 branches across Luzon and the Visayas under various formats, including Metro Supermarket, Metro Department Store, Super Metro Hypermarket, and Metro Value Mart. /atm