7-Eleven Philippines eyes 500 new stores in 2025

After opening over 4,000 stores across the country in the last 40 years, convenience store chain 7-Eleven, operated by exclusive licensor Philippine Seven Corporation (PSC), still aims to expand its footprint in the Philippines.

Forty years after opening its first 7-Eleven store at the corner of EDSA and Kamias Road in Quezon City in February 1984, PSC introduced its 4,000th store in the Newport City district in Pasay on Tuesday.

“Celebrating 40 years in the Philippines and opening our 4,000th store is a significant achievement for us. It underscores our commitment to delivering convenience and exceptional service. We’re excited to keep serving our communities and look forward to the future,” said PSC president and CEO Jose Victor Paterno.

PSC head of finance Lawrence de Leon said that the company is targeting to end the year with 4,100 stores.

De Leon added that “our market development plan calls for 500 new stores within 2025.”

“We are further expanding our footprint in the Philippines,” he said.

He said the company is earmarking P5 billion to P6 billion in capital expenditures next year to finance the store network expansion plan.

De Leon said that of the planned 500 new stores in 2025, “40% will be in VisMin (Visayas and Mindanao), 30% in Metro Manila, then the remainder will be in the rest of Luzon.”

For 2026, PSC aims to reach 5,000 stores.

“We’re a cash generating business… we can finance it using internally generated cash,” de Leon said.
PSC is banking on the country’s favorable economic environment and the growing demand for convenience among Filipino consumers.

“Business has been good, there’s a lot of demand for convenience and innovation not only in Metro Manila, but also in the provinces… We are aided by the favorable economic environment,” de Leon said.

For the period ending June 30, 2024, PSC generated a net profit of P1.76 billion, up 14% from P1.55 billion in the same period last year. —VBL, GMA Integrated News