MANILA, Philippines — As the economy slowly reopens, Shakey’s Pizza Asia Ventures Inc. is resuming expansion plans put on hold last year because of quarantines to control the coronavirus pandemic. In a disclosure to the stock exchange on Tuesday, the listed full-service restaurant chain of the Po family announced to open 15 new Shakey’s restaurants this year. Once built, new stores would add to the company’s 245 existing Shakey’s restaurants, three of which are located abroad, and 34 Peri-Peri branches as of 2020. Shakey’s Pizza is yet to disclose its financial performance for all of 2020, but year-to-date losses were expected to have been moderated by a return to profits in the last quarter. “With evolving consumer habits brought about by the pandemic, our network expansion strategy has likewise adapted to ensure we maximize both our in-store and out-of-store presence,” Gregorio said.

Source: Philippine Star February 23, 2021 07:07 UTC