Consumer goods retailer Puregold Price Club Inc. said profit in the first half of the year hit P4.4 billion, down 4.8 percent.
Revenues reached P91.2 billion, up 11 percent growth from P82.2 billion last year, but was partially offset by compressed margins and higher operating expenses, Puregold said.
“The company increased its business activities and is gearing up to increase its store counts,” it said.
Puregold said group-wide same store sales growth (SSSG) picked up to 7 percent compared to last year’s 6.7 percent.
“Broken down by banners, the enterprise experienced positive same SSSG of 5.9 percent from Puregold stores and 9.5 percent from S&R Warehouse clubs for the same period.
“SSSG trended towards more normalization starting in the second quarter as a contrast to the more flattering base effects felt in the first quarter of this year. The company continues to see a buoyant trajectory in topline growth for the balance of the year,” it said.
Puregold closed the period with 543 stores, divided into 467 Puregold stores, 23 S&R Warehouses, and 52 S&R New York Style quick service restaurants.
Puregold opened 16 new Puregold stores, 1 S&R and 1 S&R New York Style pizza for the period..
