Philippines: SM Investments Corporation approves merger of SM Retail Inc. with several related retail companies

Pasay City, Philippines, 2016-Feb-29 — /EPR Retail News/ — Today the Board of Directors of SM Investments Corporation (SM) approved the merger of its retail arm, SM Retail Inc. (SM Retail) with several related retail companies. The related companies operate leading local retail chains including Ace Hardware, SM Appliance Center, Homeworld, Our Home, Toy Kingdom, […]

SM Retail Inc. now with 50 stores across Philippines with the recent opening of The SM Store Megacenter in Cabanatuan, Nueva Ecija

Pasay City, Philippines, 2015-3-13 — /EPR Retail News/ — From SM’s first ShoeMart store in Carriedo, Manila, SM Retail Inc. has grown its department store business, now known as The SM Store, to 50 branches nationwide, making it a market leader in the Philippines with strong brand loyalty that has built and nurtured memories across generations. “The […]

SM Investments Corporation (SM) reports 14.4% increase in recurring net income

Pasay City, Philippines, 2015-3-5 — /EPR Retail News/ — SM Investments Corporation (SM) reported a record net income in 2014 of PHP28.4 billion. Excluding extraordinary items, recurring net income grew 14.4%. SM’s underlying earnings growth was mainly driven by BDO Unibank, Inc., which posted a core income growth of 18%. Together with China Banking Corporation, banks […]