MM is a consumer-focused retail corporation primarily involved in the operation of supermarket and, from January 30, 2020, domestic necessities retail outlets. MM plans to pioneer the franchise business model for supermarkets and home goods shops in the Philippines via its subsidiary, MerryMart Grocery Centers Inc. (MMGC).
MerryMart intends to cover all grocery retail categories, including small, medium, and big food store formats. MerryMart will provide three (3) different grocery store formats: 1.MarryMart Grocery, 2.MarryMart Market, and 3.MarryMart Store
MM is entirely owned by Injap Investments Inc., which also controls 35% of DoubleDragon Properties Corp.
- MM intends to offer smart lockers via a new enterprise named MBOX, with the goal of deploying 5,000 self-service lockers with full-time access by 2030.
- The board of directors of the corporation authorized the formation of a fully owned subsidiary to concentrate on the business’s consumer technology endeavors. The new company will be known as MM Consumer Technologies Corp.
- MM said that it aims to commence wholesale operations in April, after the completion of a new logistics distribution hub in Tarlac. However, there have been no updates on the start of activities.
- For the first nine months of 2020, the firm recorded a net income of P14.50 million, a 26.4 percent increase over the same time the previous year.
- The firm secured a deal with FoodPanda Philippines to run and pioneer the ‘dark grocery’ store concept in the Philippines, with the goal of becoming the country’s first 15-minute grocery delivery service.
- The stock is presently down 28% since the start of the year.
- It recently broke its 8-day moving average line, but it remains below its 20-day, 50-day, and 100-day moving average lines.
- The stock fluctuates between P15 and P100 million every day.
- MM has retreated from recent highs and is maintaining support around P3.65. It has already begun to rise and may attempt the resistance level in the near future trading sessions.
Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.