Puregold Price Club Inc. reported a net profit of P10.42 billion in 2024, up 21.3 percent from P8.6 billion the prior year.
The company said in a statement on Thursday revenues grew 10.1 percent to P219.17 billion in 2024 from P199 billion in 2023 with same-store sales of Puregold stores and S&R Warehouse Clubs increasing 4.5 percent and 6.4 percent, respectively on higher traffic and basket size. Puregold did not provide the figures.
“Our company has delivered record-breaking earnings, demonstrating resilience and strong performance even in the face of challenging market conditions. This success is a direct result of the sustainable growth and proven profitability of our core business,” said Ferdinand Vincent Co, Puregold president.
“As we look to 2025, we are implementing an aggressive store expansion strategy, prioritizing key provincial markets. This strategic initiative is designed to drive continued growth, expand our market footprint, and enhance customer shopping satisfaction, convenience, and accessibility, ultimately positioning us for long-term value creation,” Co added.
The company opened 26 new Puregold stores, four S&R Membership Shopping Warehouse and eight S&R New York Style quick-service restaurants last year.
It closed 2024 with a network of 602 stores, comprised of 511 Puregold stores, 29 S&R Membership Shopping Warehouses and 62 S&R New York Style QSRs.
