CARIBBEAN BUSINESS
Selectos To Invest $5.5 Million In Infrastructure And Add Five Stores
Sales projected to increase 20% in 2002
By TAINA ROSA
October 25, 2001
Copyright © 2001 CARIBBEAN BUSINESS.
All Rights Reserved.
Locally owned Supermercados Selectos has many reasons to celebrate its 23rd anniversary. The supermarket chain, which comprises 30 independently owned stores, will add stores, expand its warehouse, and gear up to increase sales by 20% next year, according to its Chairman of the Board Edwin Lopez.
"Our chain has experienced steady 10% growth for the last three years," said Selectos Executive Director Mickey Sabo, adding that as many as five stores outside the metro area will join the chain. "One will join us before yearend, and another three or four will join in 2002."
Lopez said requirements for new stores to join Selectos chain include having a strong relationship with the food industry, defined departments (dairy, meat, dry goods, etc.), and more than 5,000 square feet of space.
Selectos is also investing $5.5 million to add 6,000 square feet to its 10,000-square-foot central warehouse. It will also invest $75,000 to automate its infrastructure in the next six to seven months, including equipping stores with scanners and installing a company-wide information system to generate reports ranging from purchase orders to inventory levels.
In addition, Selectos has implemented strategies aimed to make its sales grow such as employee cross-training programs and improved service tactics.
In celebration of its 23rd anniversary, Selectos will hold its annual convention at the Ponce Hilton & Casino. Selectos has 900 employees–85% of them full-time–and sales of $120 million last year, according to Sabo.
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26th October 2001, 20:01
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