Shakey's eyes 'gradual' re-opening as coronavirus lockdown enters fourth week


Posted at Apr 06 2020 01:00 PM

MANILA - Shakey’s Pizza Asia Ventures Inc said Monday it was looking at “gradually” reopening more stores in the next few weeks as the Luzon lockdown entered its fourth week. 

Select Shakey’s and Peri Peri Charcoal Chicken outlets remain operational for delivery and takeout services but with limited menus, shortened work hours and skeletal workforce, the restaurant operator told the stock exchange.

“Amid the short-term disruptions, we are also readying ourselves to bounce back in what we believe will be a new post COVID world where a strong brand and delivery presence is key,” Shakey’s president and CEO Vicente Gregorio said. 

“This is an extraordinary time, but we are able to manage through by prioritizing a strong cash and liquidity position, and slowly increasing delivery and carry-out accessibility,” he said. 

Dine-in options for restaurants was suspended following the announcement of an enhanced community quarantine for the entire island of Luzon to stop the spread of COVID-19.

In 2019, the group's recurring net income grew 10 percent to P923 million from P841 million, pre-Philippine Financial Reporting Standard (pre-PFRS) 16. 

The group operates 276 stores in the country with 246 Shakey’s and 30 Peri-Peri Charcoal Chicken outlets as of December 2019.