7-Eleven sets aside P5 billion capex

MANILA, Philippines — Philippine Seven Corp. (PSC) is showing no signs of slowing down, setting aside around P5 billion to fund its aggressive expansion of 7-Eleven stores this year.

PSC chairman Victor Paterno said the company is not putting the brakes on its 5,000th-store target by year-end despite the ongoing Middle East crisis.

“We can’t really slow down. We have 400 stores opening, hopefully, by the end of the year. Those have already broken ground,” he said on the sidelines of the 2026 Franchise Asia Philippines yesterday.

PSC, the exclusive licensee of 7-Eleven in the Philippines, currently has over 4,500 stores nationwide, Paterno said, noting that more than half are franchise-operated.

Even as high fuel prices prompt consumers to cut back on spending, Paterno said the company remains “bullish” about its growth, supported by its hedging strategies.

Local businesses are now bearing the impact of elevated energy prices, which have driven up operational costs through higher expenses in manufacturing, importing and distributing goods.

“We’re trying to keep operational costs down. We’re trying to control power (prices); we’re trying to hedge power,” Paterno stressed.

PSC, he said, has signed deals to enroll the majority of its operational and soon-to-open stores in the government’s retail aggregation program (RAP), although further details remain under wraps.

RAP allows multiple facilities within the same franchise area to pool their demand to meet the 500-kilowatt threshold required to choose their preferred power suppliers.

Apart from prudent cost management, the operator of the country’s largest convenience store network is also leveraging the proximity of its network.

“We haven’t seen a decrease in sales due to the crisis,” Paterno said, citing the drop in sales for some retail businesses, particularly those in malls.

PSC, which has accelerated its expansion outside Metro Manila, opened 423 new stores last year. For 2026, at least five in every 10 planned store launches will be in Visayas and Mindanao.

The company launched its first 7-Eleven store at the corner of EDSA and Kamias Road in Metro Manila in 1984. It achieved its 3,000th store milestone in June 2021 and reached the 4,000th store mark in October 2024.