Supermarket chain operator Puregold Price Club Inc. said Tuesday nine-month net income rose 2.1 percent to P6.6 billion from P6.47 billion in the same period last year as compressed margins and higher operating expenses partially offset higher sales.
Nine-month sales jumped 9.2 percent to P139.3 billion from P127.5 billion.
Puregold said the group experienced positive same-store sales growth of 4.8 percent from Puregold stores and 4.1 percent from S&R Warehouse clubs, driven by higher foot traffic.
The grocery chain said same-store sales growth trends started to normalize in the second quarter, in contrast to the more flattering base effects felt in the first quarter.
“The company continues to see a buoyant trajectory in topline growth for the balance of the year,” Puregold said.
Puregold opened 30 new Puregold stores, 2 S&R Membership Shopping Warehouse branches and 2 S&R New York Style QSR outlets in the first nine months of the year.
The group had a total of 558 stores nationwide as of end-September. These included 481 Puregold stores, 24 S&R Membership Shopping Warehouses and 53 S&R New York Style QSRs.