Lucio Co to open 2 new S&R stores in 2018
Bilyonaryo Lucio Co is opening two more S&R Membership Shopping clubs next year to further expand the group’s reach and boost profitability.
These new stores will bring S&R’s network to 15, which are located in Bonifacio Global City in Taguig; Congressional near Epifanio Delos Santos Avenue (EDSA), Quezon City; Alabang, Muntinlupa City; Aseana-Baclaran, Paranaque City; Shaw Boulevard, Mandaluyong City; San Fernando City, Pampanga; Mandaue City, Cebu; Iloilo City; Imus City, Cavite; Davao City; Cagayan De Oro City; and Nuvali in Sta. Rosa City, Laguna., and Novaliches City.
Puregold Price Club Inc. posted a net income of P3.9 billion in the first nine months, representing a seven percent growth year on year due to the continuous organic expansion of the grocery retail outlets.
Consolidated net sales increased 11.2 percent to P87.5 billion due to the continued strong consumer demand from its Puregold, S&R Mmembership warehouse clubs and S&R New York Style Pizza stores. Income from operations rose 7.4 percent to P5.26 billion.
“Our retail businesses continue to deliver steady growth and we remain optimistic that the positive momentum will be sustained for the remaining months of 2017. We also registered better than expected same store sales growth of 4.5% for Puregold stores and 10.7% for S&R stores which were driven by the strong consumer demand and the sustained economic growth of the country.” said Puregold president, Mr. Vincent Co.
The group had a total of 352 stores nationwide — 291 Puregold stores, 13 S&R membership shopping warehouse, and 31 S&R New York Style QSR, 9 NE Bodega Supermarkets and 8 Budgetlane Supermarkets.