Metro Holdings to reposition retail business, roll out new multi-concept stores

Teo Zheng Long07-20 12:12

Metro says that it has commenced evaluating potential locations and opportunities with existing landlords as well as other landlords for the rollout of its new retail multi-concept stores.Following ...

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Metro is engaged in discussions with the existing landlords as well as other landlords to rollout the new retail multi-concept stores,\" Metro states in a July 20 bourse filing.\nParagon and Causeway Point are owned by CapitaLand Integrated Commercial Trust (CICT) and Frasers Centrepoint Trust (FCT) respectively.\nAs at March 31, Metro is the fourth largest tenant for FCT and accounts for 1.3% of its total gross rental income (GRI) and 2.2% of total net leasable area (NLA).\nMetro says that it has commenced evaluating potential locations and opportunities with existing landlords as well as other landlords for the rollout of its new retail multi-concept stores. \n\"Following a comprehensive review, the Board believes this strategic repositioning will better position Metro for long-term sustainable growth by creating a more agile retail platform that can adapt to changing consumer expectations and capture new opportunities,\" says Metro's chairman, Tan Soo Khoon.\n\"Amidst the challenging operating environment, our refreshed retail strategy is designed to meet customers' evolving expectations while having greater flexibility to introduce new concepts, brands and partnerships,\" adds Metro's CEO and executive director, Yip Hoong Mun.\nMetro states that it is currently assessing the financial implications of this transition and is unable to quantify the full financial impact to its earnings at this juncture. Based on information currently available, Metro's Board does not expect the transition to have a material impact on the consolidated net tangible assets and earnings per share for FY2027 ended March 31.\nShares of Metro closed 0.5 cents higher, or 1.1% up at 46 cents on July 20.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2653594244","isCrawlerRequest":true}