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By Arra B. Francia Reporter
LBC Express Holdings, Inc. plans to open 100 stores a year until 2020, while embarking on a three "With the expansion of the network, we are responsible for opening about 100 stores each year," said LBC Express President and COO, Miguel Angel A. Camahort, at the end of Annual Shareholders Meeting in the city of Pasay Monday.
The planned store openings will bring the LBC Express network to about 1,400 this year. The company has already opened about 45 to 46 stores in the first half of 2018.
LBC Express CFO, Enrique V. Rey, said each store costs about 700,000 to 1 million pesos to install.
will also consolidate its international subsidiaries, particularly those of the United Kingdom, Italy, Spain, Germany and Hong Kong, under the company.
It is the process of acquiring its units abroad. ] Million. Rey says they want affiliates to be "healthier" before being integrated into LBC Express, saying that European affairs have been "challenged".
LBC Express International Units currently account for less than 5% of total business. 19659005] The expansion of the store network is part of the digital transformation of LBC Express until 2020. Mr. Camahort said that the company would digitize its operations in response to the role of technology in the transformation of its business processes.
Across the industry, we see another opportunity for LBC to define itself in all of its business sectors. Technology has literally changed every aspect of how businesses operate, and LBC is moving to make sure they lead the pack, "said Mr. Camahort during a speech at of the annual meeting of shareholders
. includes three aspects, such as investments in technology, training people to new technology and expanding its network of stores.
"We have partnered with Ramco, a leading provider of system integrators for the single platform. . We are also now investing in portable units so that all of our couriers bring with them portable units for the transaction facility, "said Mr. Camahort.
The company headed by Araneta has also introduced new services that facilitate online and online transactions. trading companies, namely cash (COD) and COD. These target small online sellers and start-up entrepreneurs.
"Social sellers have been an important driver for our retail sector and we think that will continue … we think strategically that we need to position ourselves to support these social sellers.
FOLLOW-UP OFFER
Meanwhile, LBC Express stated that it would again submit to the Securities and Exchange Commission its registration statement for a follow-up offer to reflect the first quarter financial results. LBC Express has encountered delays in preparing its registration statement for the OFA since its last underwriter was forced to close shop last year.
The details of the stock sale, however, remain the same, with 69 million shares valued from P13 to P22 each for sale. Abacus Capital and Investment Corp. was used as a new underwriter of the offer.
Net income attributable to the parent company jumped 143% to 559.8 million pesos in the first three months of 2018, as revenues increased. % to P2.75 billion for the period. The company expects its second quarter results to be "better than the first quarter."
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