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News and Events

7-Eleven, Robinsons, Puregold or SM: Which Retailer Benefited the Most From TRAIN Law?

Giant store chains enjoy revenue boost in the first half of 2018 thanks to personal income tax cuts

The personal income tax cuts mandated by the Tax Reform for Acceleration and Inclusion (TRAIN) law that took effect in January 2018 may have been sizeable but their impact on overall economic growth is anything but.With higher take home pay, workers and employees ...

by Elyssa Christine Lopez  | August 17, 2018 01:00:00
News and Events

SM in Talks to Buy Goldilocks Minority Stake Months After Backing Out of Acquisition Deal

The conglomerate is eyeing to buy a 34% stake in the country's largest bakeshop chain

Listed retail and real estate conglomerate SM Investments Corp. is in talks to acquire a 34-percent stake in bakeshop and restaurant chain Goldilocks Bakeshop Inc., according to a report by the Philippine Daily Inquirer.“A spokesperson from SM confirmed to the Inquirer that ...

by Lorenzo Kyle Subido  | August 13, 2018 12:00:00
News and Events

Why Did SM Withdraw Its Bid to Take Over Goldilocks Bakeshop?

This comes less than a month after the Philippine Competition Commission approved the takeover

SM Group’s property and retailing unit SM Retail Inc. has withdrawn its acquisition bid over bakeshop and restaurant chain Goldilocks Bakeshop Inc. on Thursday, February 1.“Regarding the proposed acquisition by SM Retail of Goldilocks, both SM and Goldilocks have jointly agreed not ...

by Pauline Macaraeg  | February 01, 2018 03:00:00
News and Events

Now that Sy Family Owns Goldilocks, Will Red Ribbon and Other Bakery Chains Have a Fighting Chance in SM Malls?

SM Group vows fair treatment of Goldilocks’ rivals but regulators will keep watch for 5 years to make sure

The Philippine Competition Commission (PCC) has approved the takeover by SM Retail Inc. (SMRI), a unit of the property and retailing giant SM Group, of bakeshop and restaurant chain Goldilocks Bakeshop Inc., the government agency announced in a statement issued January 9.The ...

by Elyssa Christine Lopez  | January 10, 2018 06:00:00
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