Grocery retail leader Puregold Price Club Inc. on Friday reported a 13 percent growth in first half net profit of P4.95 billion, supported by the slight improvement in gross margins across Puregold and S&R retail operations.
The listed grocery retailer increased consolidated revenue by 8 percent to P98.5 billion in the first half.
Puregold said higher customer traffic and increased ticket sizes lifted same-store sales growth of 1.9 percent from Puregold Stores and 2.4 percent from S&R warehouse clubs.
The company anticipates continued strong sales growth for the remainder of 2024 as a result of its expansion.
As of June 30, Puregold has expanded its footprint with the opening of 12 new Puregold stores, 2 S&R Membership Shopping Warehouses, and 1 S&R New York Style QSR, bringing the total number of stores nationwide to 581.
This total includes 498 Puregold stores, 28 S&R Membership Shopping Warehouses, and 55 S&R New York Style QSRs.
