SPAVI tops 3,000 outlets, closes underperforming stores

LISTED restaurant operator Shakey’s Pizza Asia Ventures, Inc. (SPAVI) has closed up to 20 stores this year and is reviewing additional locations as part of efforts to streamline operations and improve profitability, even as its store network surpassed 3,000 outlets.

“As of this year, we’ve already surpassed 3,000, which is a good thing. But… we’re treating this as not letting a good crisis go to waste. We’re taking this opportunity to close underperforming stores,” SPAVI Chairman Christopher T. Po said during a media briefing on Wednesday.

The company said it has shut between 15 and 20 stores so far this year as part of an ongoing review of store performance, with more locations still under evaluation.

Mr. Po described 2026 as a year focused on restructuring and improving operational efficiency rather than aggressive expansion.

“That’s why when the question came up on when profits will come back to the same pace as in the past, we’re seeing this year as a restructuring year, a streamlining year,” he said.

SPAVI has also implemented low-single-digit price increases to help offset higher operating costs.

“Our price increases are significantly lower than that, in fact in the low single digits, because we understand the need to provide our guests value,” Mr. Po said.

SPAVI President and Chief Executive Officer Vicente L. Gregorio said higher utility and transportation expenses have continued to pressure restaurant operators.

“Like everyone in the industry, we’re getting hit, ergo the need to initiate measured price increases,” he said.

The company said it is focusing on improving margins through cost management, operational efficiencies, and store rationalization.

“We are focusing more on unlocking efficiencies from our execution and restructuring and store rationalization… We see a lot of opportunities where we could trim fat off so that we can come out leaner,” Mr. Gregorio said.

Among its brands, Shakey’s Pizza has recorded relatively fewer store closures, while Peri-Peri Charcoal Chicken and Sauce Bar has presented more opportunities for network optimization, according to management.

Other concepts, including Potato Corner, are also being evaluated for possible relocation or restructuring.

SPAVI’s portfolio includes Shakey’s Pizza, Peri-Peri Charcoal Chicken and Sauce Bar, Potato Corner, R&B Milk Tea, and Project Pie.

At the Philippine Stock Exchange on Wednesday, SPAVI shares rose 1.64% to P6.20 each. — Alexandria Grace C. Magno