Puregold to open 25 new stores, 2 S&R warehouses

ABS-CBN News

Posted at Jan 03 2018 11:22 AM

MANILA - Retailer Puregold said Wednesday it would open 25 new branches this year and 2 new warehouses of its S&R membership shopping chain.

The company controlled by billionaire Lucio Co confirmed the expansion plan in a disclosure to the stock exchange after it was reported by BusinessWorld newspaper.

Puregold shares were down 0.1 percent in early trading Wednesday as financial markets reopened, compared to a 1.29-percent gain in the main index.

Analysts expect retailers like Puregold to benefit from tax reform this year, as lower income tax rates result in higher disposable incomes.