• Same-store sales rose 4.5 percent for Puregold and 6.4 percent for S&R, driven by higher traffic and bigger basket sizes.
• Revenues grew 10.1 percent year-on-year to P219.17 billion in 2024.
• Puregold declared a total dividend payout of P5.21 billion, with a yield of 7.1 percent.
• The company opened 26 new Puregold stores, 4 S&R warehouses, and 8 S&R QSRs during the year.
• Puregold now operates 602 stores nationwide across all formats.
Management’s view
“Our company has delivered record-breaking earnings, demonstrating resilience and strong performance even in the face of challenging market conditions. This success is a direct result of the sustainable growth and proven profitability of our core business,” said Puregold Price Club Inc. president Ferdinand Vincent Co.
“As we look to 2025, we are implementing an aggressive store expansion strategy, prioritizing key provincial markets. This strategic initiative is designed to drive continued growth, expand our market footprint, and enhance customer shopping satisfaction, convenience, and accessibility, ultimately positioning us for long-term value creation,” he added.
Analyst view
Cholo Miguel Ramirez, AP Securities research analyst, said Puregold’s record performance was in step with their estimates.
He said AP Securities has a “buy” rating on the retailer with a target price of P43.70 per share.
Puregold pays cash dividends
To reward shareholders, the company’s board approved P5.21 billion in total dividends, consisting of a 30- percent regular payout worth P3.13 billion and a 20-percent special dividend totaling P2.08 billion.
The regular dividend of P1.09 per share will be paid out on April 30, while the special dividend of P0.72 per share will be released by Sept. 2, both drawn from unrestricted retained earnings.
