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3 Puregold stores to open this month

Danessa O. Rivera

The Daily Tribune

 

Puregold Price Club Inc. said its earnings this year was on-track with its projections as it unveils plans to open three to four more stores before the end of the year.

 

Puregold president Leonardo Dayao the P1.5 billion target earnings for this year is attainable as indications for December is on-track. “We’re on-track as to projection. If you look at our third quarter results and you can just take it from there. The fourth quarter is strong,” he said.

 

As of Sept. 30, 2011, the company posted net income of P1.078 million as compared to P379 million at the end of the same period in previous year, an increase of 185 percent.

 

In terms of revenue, Dayao said that over 30 percent is accounted for the fourth quarter while the previews quarters were at 13 percent.

 

Meanwhile, he said Puregold will open three to four more stores before the year ends. Recently, the chain of supermarket opened its 100th store in Taguig City, located at Gen. A. Luna Street corner Col. P. Cruz Street in Barangay Tuktukan, beside the Taguig City Hall.

 

The opening of the new store capped a banner year for Puregold in terms of expansion as it opened 38 stores this 2011.

 

Puregold Taguig is a hypermarket with around 6,000 sqm of GFA, with the ground floor as leasable and parking spaced and the second floor housing its supermarket while the third floor a tenant and other stores.

 

In 2012, they will be opening 25 new stores and Dayao noted that maybe by end of Q1 2012, they will review and may revise the number of stores to be opened.

 

Earlier, the company said it plans to open at least 25 stores in 2012, half of which will be opened in the affluent cities in the Visayas and Mindanao, marking its expansion beyond Luzon.

 

In the next four years, Puregold is targeting another 100 new stores, opening 25 stores each year until 2015.