National Book Store opening up to 15 stores in 2013
MANILA, Philippines - National Book Store Inc. (NBS) plans to put up 10 to 15 new stores nationwide in 2013.
The company, which is looking to enter the stock exchange through backdoor listing, said store openings would coincide with the opening of major malls.
"That's roughly in line with the major mall openings," said Atlas Mining Director and EVP Adrian Ramos. Ramos' family owns National Bookstore, Atlas Mining and Anglo Philippine Holdings.
Ramos said that the next major NBS opening is in May. The company will launch a new branch in SM Aura in Taguig City.
Ramos added NBS would also set up stores in other malls. "Not just (in) SM, all the major malls, that's SM, Ayala and Robinsons. We work with all of them," he said.
NBS sources about 60% of its revenues from selling stationery and school/office supplies, according to Ramos. He said that while earnings from the book business may fluctuate, the stationery and supplies business remains steady, particularly in the current condition of the Philippine economy.
"National Book Store's business, a big chunk of it, is stationery, office supplies, which is a consumer-driven business. And I think with the growth in the Philippine economy, it's a great business to be in, especially with the brand recognition. National Bookstore is still known to be the preeminent source for school, office supplies and stationery. Although the book business may plateau, may grow a little or may decrease a little, we're confident that the bulk of the business is something that will really ride the growth of the PH economy," Ramos said.
NBS currently has 165 stores across the country. Last April 18, the company's board approved the purchase of P3.04 billion worth of shares in listed Vulcan Mining, paving the way for its backdoor listing. - Rappler.com