Retailer Puregold Price Club Inc. has settled a P5.09-billion debt issue ahead of maturity as a change in the tax treatment on proceeds from these securities will otherwise make debt servicing costlier than originally envisioned.
Retailer Puregold Price Club Inc. sold P6.5 billion worth of secondary shares in an overnight equity deal that widened its public ownership back to 32 percent, the level before it took over the upscale warehouse shopping chain S&R.
Retailer Puregold Price Club Inc. tripled its net profit in 2011 as an aggressive store expansion program and robust retail trade in the country jacked up its sales volume.
Chinese-Filipino businessman Lucio Co plans to merge S&R Membership Shopping with Puregold Price Club Inc., thus consolidating his retailing businesses into a publicly listed vehicle catering to all market segments.
Retailer Puregold Price Club Inc. is on track to hit its targeted net profit of at least P1.5 billion in 2011, more than double the net profit booked in 2010.
