7-Eleven operator sets P3-B capex for 2015

PHILIPPINE Seven Corp. (PSC), local operator of the 7-Eleven chain of convenience stores, is allocating P3 billion for capital expenditures this year, its largest to date, to fund an aggressive expansion program amid tightening competition in the retail segment.

“For this year, the company will be increasing its capital expenditure budget by more than 50 percent to P3 billion to support its accelerated store expansion strategy,” it said in a statement.