Shakey’s H1 profit falls 33% to P232M

MANILA, Philippines — Shakey’s Pizza Asia Ventures Inc. saw its first-half profit fall by a third as softer consumer spending, store expansion costs and the restructuring of its Peri-Peri network weighed on earnings.

The restaurant and food kiosk operator said on Thursday its net income after tax (NIAT) declined by 33 percent to P232 million in the first six months of 2026.

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Excluding non-recurring costs from the Peri-Peri restructuring, core NIAT still fell by 26 percent.

The weaker bottom line came despite continued sales growth.

Systemwide sales rose by 12 percent to P13 billion, supported by the group’s expanding store network.

Consolidated revenues increased by 9 percent to P8.2 billion. Same-store sales, however, slipped by 1 percent in both the second quarter and the first half.

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Shakey’s said an inflationary spike during the second quarter, as pump prices surged amid the Middle East conflict, further weakened discretionary spending.

Still, systemwide sales and revenues each improved by 4 percent in the second quarter from the preceding three months.

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The group continued expanding despite the challenging environment, although at a more measured pace. It added 35 net new stores and outlets during the second quarter, bringing net openings to 104 in the first half.

Shakey’s ended June with 3,074 stores globally. New locations included a Shakey’s branch at Festive Walk in Iloilo and Potato Corner’s 15th store in Taiwan at Kaohsiung Dream Mall.

Shakey’s president and CEO Vic Gregorio said the company was restructuring its Peri-Peri network, optimizing cash usage and strengthening its portfolio as less established brands proved more vulnerable to the difficult operating environment.

“Our 2026 reset will have near-term impacts to our bottomline; nevertheless, it will position the group to deliver a much better 2027,” Gregorio said. /pai