Puregold nets P5.8B

INQUIRER FILE PHOTO

Lucio Co-led retailer Puregold Price Club grew net profit last year by 5.7 percent to P5.84 billion, riding on robust consumer spending in the country by adding new stores and increasing sales out of old stores.

Puregold’s consolidated net sales increased by 10.6 percent to P124.5 billion in 2017, attributed to the strong consumer demand that boosted sales of the Puregold network as well as the S&R Membership warehouse clubs and S&R New York Style Pizza stores.

For every P1 of net sales – referring to gross sales less sales discounts, returns and allowances – Puregold earned 4.7 centavos in net profit.

As of end 2017, Puregold group had a total of 372 stores nationwide. These included: 309 Puregold stores, 14 S&R membership shopping warehoure stores; 32 S&R New York Style fast-food stores, nine NE Bodega Supermarkets and eight Budgetlane Supermarkets.