Puregold profits rise to P2-b

Published May 13, 2021, 6:00 AM

by James A. Loyola

Puregold Price Club, Inc., Lucio Co’s retail group, reported a 14.6 percent growth in consolidated net income to P2.02 billion in the first quarter of 2021 from the P1.76 billion earned in the same period in last year.

In a disclosure to the Philippine Stock Exchange, Puregold said consolidated net sales decreased by 7.9 percent to P37.73 billion in the first quarter of 2021. 

It said 72 percent of the revenues is from the Puregold Stores network and 28 percent coming from S&R Membership warehouse clubs and S&R New York Style Pizza stores.

Consolidated income from Operations grew 11.4 percent to P 3.3 billion in the first quarter of 2021, from P2.97 billion during the same period last year. 

“Despite the increasing COVID-19 cases that our country is facing, Puregold is in a good position to serve the needs of our valued customers and help fuel recovery of the country’s economy by continuing our store network expansion and introducing new innovations in grocery retailing,” said Puregold President Vincent Co.

As of end March 2021, Puregold group has a total of 479 stores nationwide. These include 413 Puregold stores, 20 S&R membership shopping warehouse, and 46 S&R New York Style QSR.