Grocery giant Puregold Price Club Inc. posted a 24 percent surge in first-quarter profit as the retailer capitalized on resilient consumer spending and expanding margins across its flagship and membership store formats.

The firm disclosed to the Philippine Stock Exchange that consolidated net income climbed to ₱3.26 billion in the three months of the year from ₱2.64 billion a year earlier.

At end-March, revenue rose 12 percent to ₱58.78 billion, driven by robust performance in same-store sales, a key metric for retailers.

Puregold’s namesake supermarket chain saw same-store sales growth of 5.4 percent, fueled largely by an increase in average basket sizes as shoppers spent more per visit.

Meanwhile, the S&R Warehouse Club division outperformed with a 12 percent jump in same-store sales, bolstered by higher foot traffic and a growing membership base.

The company’s bottom line was further supported by a strengthening of its profitability profile. Consolidated gross profit rose 15 percent to ₱11.8 billion, with gross margins widening to 20.1 percent from 19.6 percent in the prior year.

Gross operating income reached ₱12.78 billion for the quarter, a margin of 21.7 percent. Other operating income also provided a modest boost, rising 7.8 percent to ₱977 million. These gains helped offset a 11 percent rise in operating expenses, which totaled ₱8.01 billion as the company continued to invest in its logistics network and store expansions.

As of the end of March, the group operated a total of 790 locations nationwide. This portfolio includes 685 Puregold stores, 33 S&R Membership Shopping Warehouses, and 72 S&R New York Style quick-service restaurants. (James A. Loyola)