SSI Group nets P342-M in 9 months

MANILA — Profit of SSI Group, Inc., the country’s largest specialty store retailer, grew by 12 percent in the first nine months of 2017 to PHP342 million on strong sales.

SSI told the local bourse its core recurring income also rose 13 percent year-on-year to PHP444 million in January to September.

Third-quarter operating income increased 20 percent to PHP266 million.

As of end-September, the Group was operating 652 stores covering more than 131,000 square meters.

“Improvements in sales productivity and operating margin reflect sustained consumer demand, the increased efficiency of our store network and the strength of our brand portfolio. We enter the Christmas shopping season confident that SSI is in a strong position to capture increasing discretionary spending.” said SSI Group President Anthony T. Huang.

The Group’s store network also includes e-commerce properties of Lacoste, Payless, Beautybar, 158db and ssilife.