SM Mall Archives - Inside Retail Asia

SM’s profit climbs

Philippines shopping mall developer SM Prime achieved a net income of 4.58 billion pesos ($103.10 million) during the first three months of the year. That’s 11 per cent higher than last year’s 4.11 billion pesos ($92.5 million). Consolidated revenues, rose three per cent year on year to 15.35 billion pesos ($345.6 million) from 14.95 billion pesos ($336.6 million). Rental revenues accounted for 56 per cent of revenue, and grew 12 per cent to 8.56 billion pesos in 2014 from 7.63 billion pesos a y…

SM charts expansion plan

The Philippines’ SM Group plans to roll out 28 new projects this year including 20 supermarkets and three shopping malls. Two of the shopping malls will be in the Philippines while the other one will be in China in Zibo. Four of its existing malls are also set for renovation. SM currently has 48 shopping malls in the Philippines and five in China – in Xiamen, Chengdu, Chongqing, Suzhou and Jinjiang. The developer plans to list its China business once it has built up enough number of malls.…

SM soars

Filipino mall developer SM Prime achieved 16.3 billion pesos ($365.9 million) in net earnings in 2013. Consolidated revenues rose five per cent to 59.79 billion pesos ($1.34 billion) from 57.22 billion pesos ($1.28 billion) a year ago. The increase was primarily due to the full-year effect of new malls opened in 2012, namely SM City Olongapo, SM City Consolacion, SM City San Fernando, SM City General Santos, SM Lanang Premier, and the opening in 2013 of SM Aura Premier. Excluding the ne…

SM plans further expansion

Filipino mall developer and operator SM Prime plans to spend 10 billion pesos ($220.7 million) to expand existing malls. SM Prime president Hans Sy said the company is optimistic because of the increasing purchasing power of Filipinos arising from expanding economy. “It’s the economy that we are positive about. We don’t wait for the economy to grow before we expand but we are looking positively at the economy. We are confident that it is sustainable,” Sy said. The Mall of Asia i…

Uniqlo expands in the Philippines

Japanese apparel brand Uniqlo plans to open nine new stores in the Philippines by the summer of 2014. On November 15, Uniqlo opens its seventh and largest store in the Philippines, at SM Megamall, and before the end of 2013, it will open at Robinsons Malate, SM Clark, SM BF Paranaque and SM Dasmarinas. By August 2014, Uniqlo will open new stores at SM South Mall, Eastwood City, Gateway Mall and SM Santa Rosa. “We are confident that Uniqlo is set for continued rapid growth in the Philipp…

SM’s profits rise

Filipino mall developer’s first half profit grows 15 per cent.

Uniqlo to open 50 Philippine stores

Japanese clothing brand powers ahead with expansion.

SM opens 47th mall

Newest mall in Taguig City described as state-of-the-art civic centre.

Insecure malls

Darrell Wisbey asks if shopping malls in the Philippines are employing real security – or it’s all just window dressing…

SM opens fifth mall in China

Filipino mall developer believes in the potential of the Chinese market.

Brooks opens Philippines concept store

US running shoe brand opens its first concept store in Southeast Asia.

SM reports profit rise

Filipino mall operator SM Prime produces a 15 per cent boost in profit.