Golden ABC scales back store expansion to 60 this year

PHILIPPINE fashion retailer Golden ABC, Inc. (GABC) said it plans to open around 60 new stores this year, below its earlier target, as it reassesses expansion plans amid global uncertainties.

“We are a little bit more cautious, and we are assessing now how many of these stores are really necessary,” GABC President and Chief Executive Officer Alice T. Liu told reporters on the sidelines of the Franchise Asia Philippines’ 2026 International Franchise Conference on April 23.

She said the company had initially targeted opening 87 new stores this year.

“Currently, I think our count is about 60 something, so we’re still confident that it will be there,” she said.

GABC ended 2025 with more than 1,000 stores nationwide.

Ms. Liu said the company continues to see opportunities to expand as long as malls remain operational.

“To us, if the malls open, we will continue to open with them,” she said.

The Philippine retail sector has remained stable as mall footprint has exceeded pre-pandemic levels, although global uncertainties continue to affect retailers’ decisions on space expansion, according to the 2026 Global Cities Retail Guide Report by property consultant Cushman & Wakefield.

Some shopping malls, including those operated by SM Supermalls, Robinsons Malls, Ayala Malls, and Vista Malls, have shortened operating hours to manage energy use amid uncertainties linked to the ongoing Middle East conflict.

“We need to really position well our brands,” Ms. Liu said. “Retailers that have the financial muscle to withstand it will continue investing, but we are a bit more cautious.”

Ms. Liu also said the company has no immediate plans for an initial public offering, citing existing funding support.

“So far, since we are able to fund it, we have good partners that are able to fund us. We’d rather grow that way, so that we can manage our own growth,” she said.

GABC operates fashion brands such as Penshoppe, OXGN, Memo, Regatta, ForMe, and BOCU. — Beatriz Marie D. Cruz