Shakey’s Pizza Asia Ventures Inc. on Monday said it opened its 50th Peri-Peri Charcoal Chicken and Sauce Bar store in the country.
The company acquired Peri-Peri in June 2019, beginning with 23 stores in Metro Manila. In just two years, despite the pandemic, the company has more than doubled the store network of Peri-Peri.
Its 50th store is in Matalino St., Quezon City, a residential area and a well-known food hub.
“We are delighted to open our 50th Peri-Peri Store. Even during this pandemic, the brand has demonstrated strong performance, and all the new stores have received very strong market acceptance. We attribute this to the distinct and very flavorful products we serve and the unique brand experience we provide, whether via dine in or off-premise,” Vicente Gregorio, the company’s president and CEO, said.
Peri-Peri is famous for its charcoal-grilled chicken and its wide variety of specialty sauces that make use of a distinct African bird’s eye chili called piri-piri.
The store chain has been collaborating with local mural and creative artists, an initiative to simultaneously build sustainable partnerships with communities and establish the value of Peri-Peri as a purveyor of art and creative minds.
Shakey’s earlier said it is doubling down on new store openings in preparation for a reopening, especially with restrictions beginning to ease. Earlier this month, Shakey’s announced that it has opened its 310th store, in Sorsogon in Bicol.
The said opening exceeded its initial target of 30 net new stores for the year.
“We look forward to continuing on this road to recovery. We are expecting to return to profitability by year end, especially with the holiday season looking bright, and, if all goes well after the holidays, we hope to go on full throttle entering 2022,” Gregorio said.
Shakey’s reported P35.26 million in losses for the nine months of the year, narrower than last year’s P461.91-million loss.
Gross revenues this year were slightly down at P3.75 billion from last year’s P3.78 billion as the company was affected by the prolonged strict quarantine restrictions imposed due to the spread of the Delta variant in the country.
Systemwide sales was flat at P4.85 billion during the period, but same-store sales growth grew 7 percent, despite the heavier dine-in restrictions implemented within the third quarter.