Page 2 - Eleven Convenience Stores News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Published April 19, 2021, 5:00 AM
 Philippine Seven Corporation (PSC), the local licensee of 7-Eleven Convenience Stores in the country, incurred a net loss of P419.7 million in 2020, a 129 percent reversal from the P1.44 billion it earned in 2019.
  In a disclosure to the Philippine Stock Exchange, the firm said “The pandemic adversely affected sales as lockdown restrictions were imposed under different classifications of community quarantine.”
The sales of 7-Eleven stores in the office and school clusters were the most affected.
 “We are not out of the woods, by any stretch. Our financial performance has been abysmal, and when our profit and growth numbers will return depend on not just the pandemic and how the Philippines navigates it’s end, but on how quickly our online and offline pivots take root, if at all,” said PSC President Jose Victor Paterno. ....

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