Puregold Price Club Inc. said profit for the first nine months of the year reached P4.55 billion, up 12.1 percent from P4.06 billion last year.
“Puregold stores registered stronger than expected same store sales growth (SSSG) of 5.6 percent in the first nine months of 2019 while S&R registered a SSSG of 8.4 percent during the same period. Our SSSG in the first nine months of 2019 is driven by higher consumer spending fueled both by minimum wage inflation in 2018 and easing inflation in 2019,” it said.
Puregold sales hit P109.81 billion, up 10.3 percent. About 77 percent of the revenues is attributed from the Puregold Stores network and 23 percent coming from S&R Membership warehouse clubs and S&R New York Style Pizza stores.