Po family’s Shakey’s beats pre-pandemic earnings with record 2022 performance

Shakey’s Pizza Asia Ventures Inc., a leading full-service restaurant chain and food service group, reported stellar financial results last year due to increased consumer appetite.

Despite the challenges of the pandemic, the company owned by the Po family has surpassed its pre-pandemic earnings, with a record-high P874 million as well as systemwide sales of P14.1 billion or 36 percent higher than the previous year.

Shakey’s attributed this success to a combination of factors, including the resurgence of dine-in sales, strategic store network expansion, and the acquisition of Potato Corner, a popular kiosk-based food brand.

The company reported an impressive 37 percent same-store sales growth for the year.

The fourth quarter of 2022 was particularly strong, with systemwide sales doubling from the same period last year, driven by the peak of consumer spending during the holiday season.