PUREGOLD Price Club, Inc. is looking to open its 500th Puregold store by July and four new S&R stores this year amid plans to tap more provincial areas, its top official said.
At the opening ceremony of Puregold’s Negosyo Convention on Thursday, Puregold Chairman Susan P. Co said that Puregold is only four stores away from reaching 500 stores.
“We [are eyeing to open] our 500th store by July and four new S&R Warehouse Clubs this year,” the company said in a Viber message.
“We want to grow and expand our market share and to reach more TNAP (Tindahan ni Aling Puring) and Perks customers in provincial areas and regions,” it added.
TNAP is Puregold’s loyalty and membership program for resellers and wholesalers, which was established 20 years ago.
In 2023, Ms. Co said Puregold ended with 850,000 sari-sari store members and 50,000 food establishment members.
“Sari-sari stores and small business owners continue to face a tough economic landscape. It seems no one is spared. From competition to varying market trends, the road to success is not always easy,” Ms. Co said.
“But by standing together, by sharing our knowledge and our experiences, we can create a network of support that will help us push through even the toughest of times,” she added.
Ferdinand Vincent P. Co, president of Puregold, said that he attributes the growth of TNAP members to Puregold’s quality products at competitive pricing.
“Over the last few years, we have witnessed strong growth in the number of Aling Puring members. A consistent surge in member visits and purchases helped record-setting volumes,” he added.
The event received support from over 120 brands, including Monde Nissin, Nestlé, Procter & Gamble, Unilever, Universal Robina, Alaska Milk, Century Pacific Food, Coca-Cola Beverages, Colgate-Palmolive, GCash, Nutri-Asia, and Rebisco.
In the first quarter, Puregold posted P47.32 billion in consolidated net sales, up 6.7% from P44.53 billion in the same period last year.
The company’s attributable net income increased by 3% to P2.48 billion in the three months ended March from P2.41 billion a year ago.
On Thursday, shares of Puregold went up 60 centavos or 2.49% to P24.65 apiece. — Justine Irish D. Tabile
