PHILIPPINES: SM Retail Reports Solid FY Growth

SM Retail, one of the largest retailers in the Philippines, has reported strong sales growth for its last fiscal year.

For fiscal 2016, SM Retail saw revenue grow by 8% to 276.5bn pesos, helped by the addition of 33 new outlets during the year.

As of end-December, SM Retail operated 2,110 outlets across the country, including 210 Alfamart, 156 Savemore, 57 SM Stores, 48 SM Supermarkets, 44 SM Hypermarkets, 39 WalterMart and 1,556 speciality retail outlets.