Saturday, September 22, 2018
Close  
  • share this

Puregold profit up 5.7% in 2017

/ 05:01 AM April 17, 2018

Lucio Co-led retailer Puregold Price Club grew net profit last year by 5.7 percent to P5.84 billion by adding new stores and increasing sales out of existing stores.

Puregold’s consolidated net sales increased by 10.6 percent to P124.5 billion in 2017, attributed to 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.

ADVERTISEMENT

Based on a disclosure to the Philippine Stock Exchange, income from operations grew to P8.65 billion in 2017, up by 6.9 percent from the previous year.

The group’s mature store network registered better-than-expected same store sales growth (SSSG) of 4.4 percent for the Puregold brand and 6.5 percent for the S&R brands, driven by strong consumer demand and the sustained economic growth of the country.

The group has been growing through a combination of organic expansion as well as through acquisitions.

As of end 2017, the Puregold group had a total of 372 stores nationwide. These include 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.

Puregold aims to continue to expand its store network by opening 25 new Puregold stores and two new S&R warehouse stores this 2018.

Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Puregold Price Club
For feedback, complaints, or inquiries, contact us.
entertainment

Elton John, partner win libel judgment

September 22, 2018 04:55 PM

newsinfo

Bulacan town cop chief jailed for extortion

September 22, 2018 04:48 PM

entertainment

Wendy Williams’ new hot topic: Helping substance abusers

September 22, 2018 04:45 PM



© Copyright 1997-2018 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.