Metro Retail net sales up 2% in Q1 at P8.9 billion

Cebu-based Metro Retail Stores Group Inc. (MRSGI), reported a 2 percent year-on-year increase in first-quarter net sales to P8.90 billion, buoyed by ongoing expansion and moderate gains in both its food and general merchandise segments.

- Ehda M. Dagooc

The Gaisano-led company attributed the topline growth to its widening store network and resilient consumer demand, with food retail up 1.8 percent and general merchandise advancing 2.5 percent.

However, same-store sales declined 1.7 percent, reflecting challenges in driving organic growth across its established outlets.

Gross profit rose 4.4 percent to P1.90 billion, driven by a higher contribution from general merchandise and improved margins in the food segment. This lifted gross margin as a percentage of sales to 21.3 percent, up from 20.8 percent in the same period last year.