The listed supermarket operator, led by president Ferdinand Vincent Co, saw revenues rise to P52.42 billion, driven by bigger purchases at Puregold stores and more shoppers at S&R warehouses.
Puregold group grows to over 750 branches
Same-store sales grew 5.9 percent at Puregold and 4 percent at S&R.
As of March, the company operated 757 stores nationwide, including 30 S&R clubs and 65 quick-service restaurants.
Analyst’s view
“We are still a strong buy on PGOLD as it managed to sustain its growth momentum with 1Q25 earnings remaining in-line with [AP Securities’] estimates,” said Cholo Miguel Ramirez, AP Securities research analyst told InsiderPH.
“We also note that the [first quarter] net income and revenues is currently the highest out of all the first quarters that the company recorded in any year thus far,” he added.
AP Securities keeps strong outlook
“Moving forward, we maintain our optimistic outlook that PGOLD is in a strong position to capitalize on the expected increased consumer spending driven by a combination of the recent string of wage hikes and moderating inflation,” he said.
AP Securities has a “buy” rating on the retailer with a target price of P43.70 per share.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
