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7-Eleven eyes aggressive expansion

Convenience store chain allots P615 million as capital for 2010
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Philippine Seven Corp., which holds the master franchise of 7-Eleven stores in the Philippines, said that it will be spending P615 million as capital expenditures for the year. [Read 7-Eleven and other Best Foreign Franchises here]

"Bulk of the said amount will be spent on construction of new stores, acquisition of store and computer equipment. Financing of the capital expenditures will come mainly from internal funds," Philippine Seven told the Philippine Stock Exchange. [See franchise fact sheet of 7-Eleven here]

In 2009, the company said its net income rose 84 percent to P155.8 million, mainly owing to "better sales, contained costs and improved support from trade suppliers." [Read how Bibingkinitan cuts costs with automated inventory tool here]

Meanwhile, franchise revenue improved to P250.9 million in 2009 from P204.3 million in 2008. [See top three qualities of an ideal franchisee here]

"The convenience store chain was able to surmout last year\\\'s economic slowdown through the introduction of new food service items such as Hotta Rice, Hot Beverages, and year-round value promotions. Strategic partnerships with suppliers enabled 7-Eleven to launch novel marketing promotions such as the Bingo Promo and the Big Bite Match. These efforts resulted in the continued patronization of regular 7-Eleven customers and, in turn, led to an increase in sales," the company added. [See 99 ways to sell more, faster and better here]

As of end 2009, Philippine Seven said it had 368 stores.




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