SM Hits a Hundred Retail Outlets Nationwide with the Opening of Naga Stores

Philippine conglomerate SM Investments Corporation (SM) reported last May 6 that with the opening of an SM department store and an SM supermarket at the newly inaugurated SM City Naga in Camarines Sur on Friday, May 1, 2009, SM’s retail network has hit a landmark, now with a total of 100 stores. SM’s retail
network is composed of 34 SM department stores, 25 SM supermarkets, 14 SaveMore branches, 13 SM hypermarkets, and 14 Makro outlets.

SM’s retail business is divided into two main segments, the non-food group, which is principally SM department stores, and the food-group, composed of SM supermarkets, SaveMore stores, SM hypermarkets, and Makro outlets.

SM president Mr. Harley T. Sy said, “SM retail’s sustained expansion nationwide fits well with the country’s consistently robust and dynamic consumer sector. Domestic consumer spending, supported to a large extent by remittances from overseas Filipinos, continues to grow. Thus, with the opening of SM’s 100th retail outlet, we intend to further enhance our product and service delivery, for the benefit of the millions of consumers within the SM world.”

To be opened second week of May will be an SM department store at the Annex of SM City Rosales. And, for the rest of 2009, SM will open one more department store, one supermarket, eight SaveMore branches, and six hypermarkets.