Shakey’s Reports Net Loss of ₱172 Million in Q3

Shakey’s Pizza Asia Ventures reported a net loss of ₱172 million in the third quarter of this year. This follows a second quarter with a net loss of ₱281 million.

The total net loss for the first three quarters of 2020 is ₱462 million.

Vicente Gregorio, Shakey’s president and CEO, said “Our recovery rate in the third quarter has been better than expected, mainly driven by the sustained healthy growth of our off-premise business and a marked improvement in dine-in sales,”

Shakey’s announced it was able to open 30 branches of R&B milk tea, its new beverage business. 100 stores more are planned to be opened in the next few months.

Source: ABS-CBN