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UPDATE 1-Mexico's Alsea plans to open 150 new stores by end of 2022

Reuters
·1-min read

(Adds quotes; details from analyst call)

MEXICO CITY, July 29 (Reuters) - Mexican restaurant operator Alsea is aiming to open 150 new stores by the end of next year, focusing on its top-performing Starbucks, Domino's and Burger King brands, Chief Executive Alberto Torrado said on Thursday.

"We're creating a pipeline of growth from July 2021 to December 2022," Torrado said in a call with analysts to discuss quarterly results.

He added that the company was aiming to take advantage of the opportunity to find "very good real estate that was not available before."

The coronavirus pandemic has hammered the dining industry worldwide, and Alsea last year closed about 180 poorly performing stores.

Still, Alsea's shares rose more than 9% on Thursday, a day after reporting second-quarter results that beat analyst expectations, including a net profit of 139 million pesos ($6.97 million). (Reporting by Daina Beth Solomon; Additional reporting by Miguel Angel Gutierrez; editing by Cassandra Garrison and Marguerita Choy)