C06787-2020

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)
Sep 28, 2020
2. SEC Identification Number
CS200315877
3. BIR Tax Identification No.
226-527-915
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
9

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

Press Release from Metro Retail Stores Group, Inc.
Background/Description of the Disclosure

Metro Retail Stores Group Remains Resilient and Adaptable to Major Market Shifts
Other Relevant Information

Metro Retail Stores Group, Inc. (MRSGI) recently conducted its Annual Shareholders' Meeting held virtually for the first time and attended by MRSGI’s directors, top executives, shareholders, and business partners.

MRSGI chairman and CEO, Frank S. Gaisano reported that the company capped 2019 with an operating income growth of 21.5% from the previous year at Php1.06 billion. This was on the heels of a Php36.8 billion sales representing an 11.3% increase, coupled with a more tempered growth in operating expenses at 9.3%.

Network-wide same-store sales expanded by 2.2% for the year driven by the improving performance of new comparable stores. He attributed the company’s positive performance to its agile business strategies and improvements in margin enhancement pricing policies, and merchandise assortment.

“2019 was a year of recovery and rebuilding for MRSGI. As we geared up for 2020 with optimism, little did we know that we were to face yet another challenging situation,” Gaisano expressed. “Once again, we drew on our collective experience in facing the COVID-19 pandemic and immediately put into action our business continuity and risk management plans.”

MRSGI President and COO, Manuel C. Alberto discussed the company’s response to the pandemic as it ramped up its safety and sanitation efforts and adapted to customers’ changing buying behavior and preferences.

Alberto also noted MRSGI’s recognition as the 2019 Regional Retailer of the Year at the 21st Outstanding Filipino Retailers (OFR) Awards conferred by the Philippine Retailers Association (PRA) and the Department of Trade and Industry (DTI). The OFR Awards celebrate Filipino retailers who are outstanding in terms of growth, creativity, and best business practices.

In response to the demand for accessibility to basic goods at the height of the quarantine, MRSGI also launched its mobile commerce initiatives through its Click&Pick, Call&Pickup, and Text&Pickup programs, and partnered with online grocers and last-mile delivery providers to further expand its reach. In addition, the company's online market platform, shop.themetrostores.ph, was formally launched in this year.

“We shall remain firm on our commitment to serve the interests of our customers, employees, shareholders, and the general public. As a responsible corporate citizen, we will never tire of engaging with the communities where we are present. We will not relent on our desire to have a positive impact on the lives and the environment of our communities and the country. This way, we add greater meaning to who we are and what we do as individuals and as a company,” Alberto concluded.

Currently, MRSGI operates 12 department stores, 30 supermarkets, and 13 hypermarkets around the country. The Cebuano multi-format retailer will soon be celebrating its 38th year in the industry. ###
Filed on behalf by:
Name Tara Tsarina Retuya
Designation Compliance Officer and Asst. Corporate Secretary