This news article below perhaps may clarify the rumors.
MAKRO Cagayan de Oro has closed down to give way to the opening of SM Hypermarket, the first to be established in the city.
SM Hypermarket would cater to both wet market and dry goods, including appliances and other products from Ace Hardware.
An official of SM City Cagayan de Oro said the SM Hypermarket is targeted to be opened in March this year.
“Renovations of the Makro building are on-going and hopefully, the Hypermarket would be opened by March,” the official said, who requested not to be named. Makro is located along Kauswagan highway.
The opening of SM Hypermarket would be held in time for the tentative opening of SM’s another sister company, Save More, located along Capistrano-Pacana Sts.
Earlier, Save More opened its first store in Cagayan de Oro at Agora Road in Barangay Lapasan last year, it’s very first in Mindanao.
The SM Group of Companies has acquired Makro’s chains of stores two years ago.
article by Terry D.C. Betonio of SSC