SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Mar 16, 2017

2. SEC Identification Number

CS20031587

3. BIR Tax Identification No.

226-527-915-000

4. Exact name of issuer as specified in its charter

METRO RETAIL STORES GROUP, INC.

5. Province, country or other jurisdiction of incorporation

Cebu, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

Vicsal Building, corner of C.D. Seno and W.O. Seno Sts., Guizo, North Reclamation Area, Mandaue City Postal Code 6014

8. Issuer's telephone number, including area code

(032)236-8390

9. Former name or former address, if changed since last report

-

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	3,429,375,000

11. Indicate the item numbers reported herein

1

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Metro Retail Stores Group, Inc.MRSGI

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Strong 4Q performance drives MRSGI’s 2016 net income to Php789 million
Background/Description of the Disclosure
Metro Retail Stores Group, Inc. (MRSGI), the largest retailer in the Visayas, posted a 24.3% percent growth in net income for the fourth quarter in 2016 compared to the fourth quarter 2015, bringing total net income for FY 2016 to Php789 million, up from Php758 million in 2015. Net sales in the fourth quarter grew 7.4% to Php10.67 billion compared to 2015. The inherent strength of the business was evident throughout the fourth quarter, with sales growth rising steadily from October to December. The successful fourth quarter capped a solid full-year for MRSGI. Overall net sales for 2016 hit Php34.4 billion, an increase of Php2.1 billion over 2015 for all-stores. This trajectory reflects the accelerating impact of various operational initiatives and investments that were launched earlier in 2016, in preparation for the fourth quarter and for 2017. MRSGI ramped up its supply chain and logistics modernization program over the course of the year. It inaugurated a warehouse facility in Cebu with advanced storage and security features, as well as added new delivery trucks—each equipped with tracking devices – to its fleet to ensure real-time monitoring of delivery and improve overall cost efficiency. “We are very pleased to have closed 2016 with a strong fourth quarter performance,” said MRSGI chairman and chief executive officer Frank S. Gaisano. “These positive results show that our investments and operational improvements are and will continue paying off, allowing us to better serve our ever expanding market.” MRSGI is looking to sustain this growth trajectory in 2017, with initiatives in place to bolster sales and improve store-by-store profitability. The company has a 50-strong store network, which covers 25 supermarkets, including its most recently opened store in Iloilo City, as well as 13 hypermarkets and 12 department stores. MRSGI is a subsidiary of Vicsal Group which includes Wealth Bank, which is jointly owned by Woori Bank, Korea's second largest bank; Taft Properties; and HT Land, a joint venture between Taft and Hong Kong Land. ###
Other Relevant Information
Please see attached Press Release