7-Eleven on full expansion mode, sustains earnings growth in 2024

Philippine Seven Corp. (PSC), the exclusive licensee of convenience store giant 7-Eleven in the Philippines, is pursuing its aggressive store expansion after sustaining a jump in profitability last year.

- — Richmond Mercurio

PSC president and CEO Jose Victor Paterno said the company is on track to open 500 7-Eleven branches this year, the most in the company's history.

"We opened 400 last year. This year, the plan is 500. The growth in more than half of our stores is in Visayas and Mindanao. Post-COVID, Visayas and Mindanao really grew. I think it's mostly because of digital freelancers," Paterno told The STAR.

Asked if 500 stores annually will be the direction of the company going forward, Paterno said "we hope so."

"But we'll take it year by year. I think you grow year by year and see," he said.