PSC targets 500 7-Eleven stores by year-end, focusing on Visayas and Mindanao

Philippine Seven Corp., the exclusive licensee of 7-Eleven in the Philippines, plans to open approximately 250 new stores by year-end.

As of now, PSC has opened around 218 stores and aims for a total of at least 500 stores by the end of the year.

Francis S. Medina, Operations Division Director at PSC, noted that nearly 70% of these openings will be in Visayas and Mindanao due to significant growth in those regions.

Lawrence M. De Leon, Finance Head at PSC, stated that the company operated 4,268 stores as of end-June and is on track to reach 5,000 stores by year-end with a budgeted capital expenditure of P5.5 billion for this year.

Medina highlighted that despite competition from hard-discount retailers, 7-Eleven's competitive advantages include 24-hour operations and fastfood offerings, which are not yet present in Visayas and Mindanao.