Puregold Q1 earnings rise 24% to P3.26 billion

MANILA, Philippines — Grocery chain operator Puregold Price Club Inc. grew first-quarter net income by 23.7 percent to P3.26 billion on stronger sales and improving margins. The tycoon Lucio Tan-led retailer said on Thursday that its consolidated revenue had climbed 12.1 percent to P58.78 billion in the January-to-March period. Puregold stores posted a 5.4-percent same-store sales growth, driven by higher basket size. READ: Puregold hits record earnings, declares dividends Meanwhile, S&R Warehouse Clubs recorded a 12-percent same-store sales growth due to higher customer traffic. Gross profit rose 15.1 percent to P11.8 billion, while operating income increased 20 percent to P4.77 billion. […]... Keep on reading: Puregold Q1 earnings rise 24% to P3.26 billion

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