Shakey’s eyes 50% profit hike

Pizza restaurant chain Shakey’s is eyeing P1.5 billion in sales this year or an increase of 50 percent from the year-ago level, a top company official said.

Leo Prieto Jr., president of International Family Food Services Inc. (IFFSI), said Shakey’s has been doing exceptionally well this year. IFFSI, the master franchisee for the Philippines, intends to increase its market share through opening more branches.

Currently, there are a total of 94 Shakey’s outlets nationwide, 60 percent of which are company-managed while the other stores are operated by franchisees.

Prieto said the company has so far put up seven new stores this year and plans to build another four branches for the remainder of the year. The group usually builds 10 to 12 new Shakey’s outlets annually.

About P85 million has been set aside for the working capital requirements of Shakey’s.

Established in the country in 1975, Shakey’s controls around 25 percent of the local pizza market. Other pizza parlor giants in the market include Greenwich and Pizza Hut, which hold three-fourths of the total pizza-eating market in the country.

Shakey’s is the premier pizza parlor player in the Philippines. It has been providing pizza, and pasta food to Filipinos for over 30 years now.

While it is primarily targeting the high-end pizza and pasta eating families, the company has lowered some of their products to capture the middle-income market.