MANILA - Metro Retail Stores Group on Wednesday said it has trimmed its net loss by 29 percent in 2021.

The group posted a net loss of P318 million last year from P449.60 million in 2020, it said in a disclosure to the stock exchange.

Net sales for the year reached P31.21 billion, which still reflected mobility restriction tightening last year and the impact of typhoon Odette, Metro Retail said.

Blended same store sales decline in 2021 by 5 percent but contracting at a slower pace compared to the previous year, it added.

Meanwhile, sales from its e-commerce business "more than doubled" in 2021 with a 5x growth of the group's online platform shopmetro.ph. No actual numbers were disclosed.

"MRSGI upholds its thrust to serve the changing needs of its customers both online and offline. The Company continues to invest resources in its omnichannel strategy to boost its physical and digital presence," the company said.

Metro Retail also reiterated its commitment to expand its network in underserved areas as it remains optimistic on the recovery of brick-and-mortar stores.

The group operates department stores, supermarkets and hypermarkets nationwide.

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