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Metro Retail net sales up 3.5% in 2024 at P39 62B
The Freeman
|April 23, 2025
Cebu-based Metro Retail Stores Group, Inc. (MRSGI) reported a P39.62 billion in net sales for 2024, a 3.5 percent increase compared to P38.27 billion in 2023, reflecting positive contributions from the Company's ongoing expansion efforts and a solid 4.9 percent upswing in the food retail business.
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Meanwhile, same-store sales grew modestly by 0.5 percent compared to 2023, primarily influenced by scaling down low-margin wholesale transactions in 2024.
Blended gross margin was marginally lower at 21.4 percent (compared to 21.6 percent in 2023) mainly due to the Company's strategic decision to unwind aging stock earlier in the year and slightly higher share to business coming from food retail sales.
However, with MRSGI's continued focus on operational efficiency, the operating expense to sales ratio remained stable at 19.5 percent through effective cost control measures, including the increased adoption of solar panels in key locations.
As a result, MRSGI's cash earnings (as measured by EBITDA) reached P2.34 billion in 2024, reflecting a 7.8 percent increase from P2.17 billion in 2023.
This story is from the April 23, 2025 edition of The Freeman.
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