Puregold net income up 25.6 percent in first half


Posted at Aug 13 2018 06:14 PM

MANILA – Retail chain Puregold Price Club posted a net income of P3.08 billion in the first six months of the year, up 25.6 percent compared to the same period in 2017. 

The retailer said in a disclosure to the stock exchange on Monday that sales grew in the January-June period amid higher consumer spending as the first tax reform package resulted in higher take-home pay for its customers. 

"As of end June 2018, Puregold group has a total of 393 stores nationwide. These include 341 Puregold stores, 16 S&R membership shopping warehouse, and 36 S&R New York Style QSR," the company said in a disclosure to the stock market. 

The company is also looking to open 25 new Puregold stores and 2 new S&R warehouse this year.