Injap Sia’s MerryMart to Open its First Drive-Thru Grocery Store in the Country
Listed Merrymart Consumer Corp announced that it is on track to open its first drive-thru grocery store in the country.
The drive-thru store will be located beside St. Joseph School along Diversion Road in Iloilo City and is scheduled to open in January 2021.
In July, a lawmaker proposed drive-thru services and pick-up points for supermarkets and grocery stores nationwide to reduce the risk of exposure to the coronavirus.Mer
Rep. Niña Taduran of ACT-CIS party-list said that despite physical distancing rules in these establishments, there was still a chance of contractin the virus while shopping and in line at the counter.
MerryMart, meanwhile reported robust earnings figures for the first half of 2020. Consolidated revenues was at P1.64 Billion, up 35.18 percent compared to P1.21 Billion during the same period last year. Consolidated net income, meanwhile reached P13.67 million, an increase of 23.91 percent compared to P11.03 million in the first six months of 2019.
MerryMart made a splashy initial public offering last June, the first for the country this year.
The company also said it opened two new MerryMart grocery stores this month, one in Isulan, Sultan Kudarat and the other in Bulua, Cagayan de Oro. That brings MerryMart’s current store count to nine. It plans to open an additional seventeen new branches to meet its target of 25 stores by the end of 2020.
MerryMart’s Vision 2030 goal is to roll out a total of 1,200 branches nationwide with an aim of reaching P120 billion in systemwide sales revenue.