Bilyonaryo Lucio Co-led Puregold is looking forward to another record year despite the economic slump.
Co is banking on the sustained growth in consumer spending which saw its nine-month profit rise by 10.9% to P5.05 billion.
Puregold stores registered same store sales growth (SSSG) of 4.5% while S&R registered a SSSG of 6.4%.
“We are confident that our company will achieve another record year in terms of net profits for the full year 2020 despite the challenges brought about by Covid-19.” Co, chairman of Puregold.
Puregold’s consolidated net sales improved by 10.1% to P121.14 billion in the first nine months, 75% of the revenues came from the Puregold stores and 25% from S&R Membership warehouse clubs and S&R New York Style Pizza stores.
Income from operations went up by 11.8% to P 8.5 billion.
Puregold had a total of 455 stores nationwide as of the end of September. These include 393 Puregold stores, 20 S&R membership shopping warehouse, and 42 S&R New York Style QSR.