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Puregold to open three stores in Mindanao

May 22, 2013 9:00pm

Tags: Puregold
Retailer Puregold Price Club, Inc. is set to open three more stores in Mindanao in the next few months as it seeks expansion outside Luzon.

According to Aida de Guzman, Puregold senior vice president, the three branches will be in Davao provinces — the Digos branch will open in June, the Tagum branch in July, and the Davao City branch in August.

“What we are doing is taking an opportunistic approach to growth and looking at Mindanao and the Visayas to see what is feasible,” De Guzman said Wednesday at a briefing after the opening of the firm’s Tindahan ni Aling Puring Sari-Sari Store Convention 2013 at the World Trade Center in Pasay.

She added they will be opening 25 more stores within the year, bringing its network to 200. Puregold has set its capital expenditures at P3 billion for the new stores.

Other areas that have been identified for new stores are Cagayan de Oro, Butuan and Bacolod City.

Puregold’s net income surged 105.3 percent in the first quarter of the year, or to P962 million from P69 million in the same period last year as its consolidated sales grew. — KBK, GMA News

Tags: Puregold



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