METRO RETAIL Stores Group, Inc. (MRSGI) has appointed Manuel Luis C. Alberto as its new president and chief operating officer.
In a disclosure to the stock exchange, the listed retailer said Mr. Alberto will replace Arthur Emmanuel, who has reached the compulsory retirement age of 65. Mr. Emmanuel was MRSGI’s president and COO for six years.
The change in leadership will take effect on Jan. 1, 2019.
“I am honored to lead MRSGI in such exciting times. As the retail landscape and our customers continue to evolve, MRSGI will keep pace with them and stay committed to delivering a delightful shopping experience,” Mr. Alberto was quoted as saying in a statement.
Mr. Alberto previously served as MRSGI’s chief merchandising and marketing officer, where he was tasked to ensure that the company’s stores offered a wide assortment of quality products at the best prices. He also handled merchandising improvements and operational efficiencies.
He has more than two decades of experience in the retail industry, having served key leadership positions in different companies such as Philippine FamilyMart, Inc., Rustan’s Supercenter, Inc., Avon Cosmetics, Inc., and Jollibee Foods Corp.
MRSGI noted Mr. Alberto’s track record of “achieving sales and profit targets, cost savings, business development, and implementation of brand strategies for start-up, turn-around, and market-leading companies.” His skills in site selection, store design, and development was also cited.
“Over the years, (Mr.) Alberto has built expertise in retail strategy, store operations, franchise development and relations, merchandising, food safety, supply chain, organizational and systems development, and loss prevention,” the company said.
MRSGI is currently targeting to double its 2015 gross floor area to 800,000 square meters by 2020, with a minimum of five stores scheduled to be opened this year. It has committed to spend P10 billion over the five-year period to support the expansion.
The company currently has 51 stores under its portfolio located across Central, Western, and Eastern Visayas, and in Central Luzon, Metro Manila, and South Luzon. The company operates the supermarket and hypermarket formats.
The Gaisano-led firm saw its net income drop by 17% to P454.93 million in the first nine months of 2018, following a seven percent decline in gross revenues to P22.97 billion in the same period.
Shares in MRSGI jumped 2.89% or seven centavos to close at P2.49 each at the stock exchange on Wednesday. — Arra B. Francia
