Shakey’s Pizza Asia Ventures (SPAVI) is aiming to open at least 430 new stores this year, driven by continued expansion across its domestic and international markets. 

The Philippines-based food service group reported a 17 per cent year-on-year increase in systemwide sales for the first quarter, with total revenue rising 14 per cent to US$63 million (PHP3.5 billion).

Shakey’s attributed its growth to strong same-store sales and continued network expansion across all its brands. As of the end of March, the group operated 2671 stores under banners including Peri-Peri, Shakey’s, Potato Corner, R&B Milk Tea, and Project Pie.

Potato Corner, in particular, has been expanding aggressively overseas. The brand has established a presence in Indonesia, the US, Panama, Australia, Thailand, Hong Kong, Cambodia, Singapore, Vietnam, Kuwait, Malaysia, Canada, Myanmar, Saudi Arabia, the UK, New Zealand, China, and the UAE.

“We’re pleased to start the year with healthy, double-digit growth, reflecting our thrust to expand the footprint both domestically and internationally, as well as solid underlying sales performance across our brands,” said SPAVI president and CEO Vic Gregorio.

“With inflation cooling, an improving macroeconomic backdrop is beginning to emerge, creating a more supportive environment for a company like us to build momentum and drive sustained growth,” he added.

The company expects its store rollout to accelerate in the coming quarters and reaffirmed its full-year target of opening at least 430 new stores.

Gregorio also highlighted the progress of the international business, calling it “a new vertical that is shaping up to be a meaningful contributor to our future performance.”

“SPAVI’s portfolio has undergone a major transformation in recent years, from a single-brand operation to a multi-brand, geographically diverse food service group with over 2600 stores and counting,” he added. “With this scale comes not only the opportunity but also the responsibility to create a lasting impact.”