BIZ BUZZ: 20 new stores for 2024
The Lucio Co-led retail and investment holding firm behind mega-brands Puregold Price Club Inc. and S&R Membership Shopping Club has been on a roll this year, opening 25 new stores, which boosted its total number of establishments to nearly 600.
Cosco Capital Inc. said it opened 19 new Puregold stores, three S&R Membership Shopping Warehouses, and three S&R New York-style quick service restaurants.
The group said it now operates 591 stores in the Philippines, including 505 Puregold stores, 29 S&R Membership Shopping warehouses, and 57 S&R New York-style quick service restaurants.
The company is touting several strong segments of its business, including the P151.97 billion in consolidated net sales of its Puregold and S&R stores during the first nine months of the year.
“This impressive growth is fueled by the group’s aggressive expansion strategy in Visayas and Mindanao and the aforementioned focus towards customer satisfaction and best value to customers,” it said in a statement.
Cosco Capita’s liquor distribution arm, The Keepers Holdings Inc., also brought in a consolidated revenue of P11.7 billion during the period, thanks in large part to purchases of the Alfonso brandy.
A company representative told Biz Buzz that they will continue to expand in 2025, confident of their growing business in the country.
