Puregold Price Club, Inc., a leading grocery store chain owned by businessman Lucio Co said Tuesday its net income grew 6.5 percent increase in the first quarter of 2025, reaching P2.64 billion versus P 2.48 billion in the same period last year.
The growth was largely driven by a strong top-line performance and stable gross margins, the company said in a disclosure to the stock exchange.
Revenues increased 10.8 percent to P52.42 billion, compared to P 47.32 billion in the same period a year ago.
Same-store sales growth (SSSG) of Puregold stores grew 5.9 percent increase driven by higher basket sizes while S&R Warehouse clubs also saw a 4 percent increase, due to higher foot traffic.
Puregold’s gross profit for the quarter increased by 10.8 percent to P10.26 billion.
Other operating income rose by 21.3 percent, amounting to P 906 million, up from P747 million last year.
Despite a 13.6 percent rise in operating expenses totaling P7.19 billion, the company’s gross operating income grew by 11.6 percent to P11.16 billion.
Puregold operates 757 stores nationwide as of March 31, 2025, , including 662 Puregold stores, 30 S&R Membership Shopping Warehouses, and 65 S&R New York Style QSRs.
Puregold boosted its store network with the acquisition of Puremart last year, which owns a chain of supermarket stores across Metro Manila, Rizal, Bulacan and South Luzon, for P567.5 million.
The company has earmarked P6.35 billion in capital expenditures this year, of which P4.9 billion will be used to build 30 new Puregold stores, three S&R warehouse clubs and 15 S&R quick service restaurants.
It also allotted P1.25 billion for maintenance operations, solar projects and IT update while the remaining P200 million for logistics spending.
