Puregold 9M24 Net Income Grew to P6.9 Billion, Up 4.5% YoY

​Grocery retail leader Puregold Price Club, Inc. (PGOLD) grew consolidated revenue to P151.97 billion in the first nine months of 2024 which represents a 9.1% growth from P139.3 billion in the same period last year. In the first nine months of 2024, the enterprise experienced positive same store sales growth (SSSG) of +3.5% from Puregold Stores and +4.1% from S&R Warehouse clubs driven by higher traffic and basket size. The company continues to see a buoyant trajectory in topline growth for the remainder of 2024

PGOLD consolidated net income for the first nine months of 2024 grew by 4.5% year on year to P6.9 billion from P6.6 billion. Puregold’s topline growth was complemented by the slight improvement in gross margins for the S&R business.

​As of end September 2024, PGOLD opened 19 new Puregold stores, 3 S&R Membership Shopping Warehouse and 3 S&R New York Style QSR. The group had a total of 591 stores nationwide. These include 505 Puregold stores, 29 S&R Membership Shopping Warehouses, and 57 S&R New York Style QSRs.

Puregold Price Club, Inc. (PGOLD) was incorporated on September 8, 1998 as a company involved in the business of trading goods such as consumer products on a wholesale and retail basis. The Company opened its first store in Mandaluyong City in December 1998. PGOLD’s loyalty program, 'Tindahan ni Aling Puring'; was launched in 2004.

The Company conducts its operations through several retail formats and store brands. Hypermarkets, through 'Puregold Price Club'; offer a variety of food and non-food products and generally cater to both retail customers and resellers such as members of the Company's loyalty program. Supermarkets, through 'Puregold Junior'; operate as a neighborhood store which offers a higher proportion of food to non-food products vis-a-vis the Company's hypermarkets. Discounters, through 'Puregold Extra'; operate in a small store format that offers a more limited number of goods. Meanwhile, S&R Membership Shopping adopts a warehouse club concept where most of the products offered are in club packs. Majority of the merchandise are imported brand names mostly sourced from the US.

Among others, PGOLD also owns Entenso Equities, Inc., which is the holding company for two companies, namely, Ayagold Retailers, Inc. and San Roque Supermarkets. PPCI Subic, Inc. is operating one Puregold branch in Subic Bay, Olongapo City. In 2018, PGOLD incorporated Purepadala, Inc. mainly to operate the remittance operation of the Company.