Grocery chain operator Puregold Price Club Inc. said Monday consolidated net income rose 5.4 percent in the first half to P4.2 billion from P4 billion in the same period last year amid increased shopper confidence.
Puregold said in a disclosure to the stock exchange first-half consolidated revenues climbed 7.9 percent year-on-year to P82.2 billion.
The company attributed the higher sales to continued easing of mobility restrictions which resulted in a 10-percent increase in foot traffic across all stores.
“With increased shopper confidence, the enterprise experienced positive same-store sales growth of 0.6 percent for Puregold Stores and 3.8 percent for S&R Warehouse Clubs,” Puregold said.
It said first-half gross profit reached P15.7 billion, up 9.8 percent from a year ago as operating expenses rose 6.9 percent to P10.4 billion.
Puregold opened nine new stores in the first half to increase its store network to 507 as of end-June.
These include 438 Puregold stores, 22 S&R membership shopping warehouses and 47 S&R New York Style quick service restaurants.
Puregold allotted P5.8 billion in 2022 capital expenditures as it plans to open 35 Puregold stores, three S&R Membership Shopping stores and five S&R New York Style restaurants.
Puregold’s shares closed unchanged at P30.10 Tuesday.
