The performance marks a steady rebound for the mass-market grocer, which reported consolidated net sales rising 8.6 percent to P93.9 billion.
Growth was driven by resilient demand and new store openings, pushing gross profit up 6 percent to P18.5 billion.
Continued store expansion
Puregold’s growth was supported by larger customer basket sizes, while S&R Warehouse clubs posted a 4.7 percent increase in sales on the back of stronger foot traffic.
The retailer opened 10 new branches during the period, ending June with a total of 582 stores. Distribution costs slightly declined, helping offset other inflation-related expenses.
Weaker margins
While the gross margin slightly dipped to 19.7 percent from 20.2 percent, operating costs rose 7.4 percent to P11.6 billion due to higher utilities, marketing, and depreciation.
Earnings before interest, taxes, depreciation and amortization climbed 5.9 percent to P10.7 billion, holding a stable 11.4 percent margin despite increased cost pressures.
—Edited by Miguel R. Camus
