Puregold targets to open 8 more stores by year-end – BusinessWorld Online
LISTED grocery retailer Puregold Price Club, Inc. plans to open eight new branches by the end of 2025 as part of its nationwide expansion strategy.
The supermarket chain will open new stores in Northern and Southern Luzon, as well as in other provinces in the Visayas and Mindanao, it said in a press statement on Tuesday.
The company recently opened its first Puregold branch in Zamboanga del Norte, located in Sindangan.
“Our vision is to have a Puregold branch within reach for every Filipino MSME (micro, small, and medium enterprise) and every Filipino family across the country. We want to make everyday products more accessible to them through best value pricing and greater presence,” Puregold President Ferdinand Vincent P. Co said.
For the second quarter, Puregold grew its attributable net income by 8% to P2.66 billion. Revenue climbed by 12.3% to P57.46 billion.
For the first six months, Puregold saw a 7.1% increase in consolidated net income to P5.3 billion as consolidated revenue went up by 11.6% to P109.9 billion.
Puregold stores saw a 6.4% same-store sales growth (SSSG) led by higher basket size, while S&R Membership Shopping warehouses posted 4.7% SSSG on higher traffic.
The sales boost came from the full operation of 26 new Puregold stores and four new S&R Warehouses last year, and revenues from 166 new Puregold stores and one new S&R Warehouse opened so far this year.
As of end-June, Puregold had 764 stores nationwide, which included 666 Puregold stores, 31 S&R Warehouses, and 67 S&R New York Style quick-service restaurants.
Puregold shares dropped by 1.86% or 80 centavos to P42.20 apiece on Tuesday. — Revin Mikhael D. Ochave
