Puregold opens 101st store

By Zinnia B. Dela Peña (The Philippine Star) Updated January 18, 2012 12:00 AM

MANILA, Philippines - Puregold Price Club Inc., the country’s second largest supermarket chain owned by Filipino-Chinese businessman Lucio Co, opened yesterday its first new store in 2012 located in La Trinidad, Benguet in line with its plan to open a total of 25 by yearend.

Learn what's new in CEBU now, click here

Puregold Hypermarket in La Trinidad, the group’s 101st store, is the farthest store location north of Metro Manila, the company said in a disclosure to the stock exchange.

La Trinidad is relatively the most developed municipality in the province of Benguet because of its proximity to the city of Baguio. It is the gateway of the southern lowlands into the Cordillera Region. Due to its advanced development, La Trinidad is considered as one of the central business districts of Benguet.

The farthest store locations south of Metro Manila are in the Bicol region. Puregold Hypermarket in Legaspi City, Albay opened on Nov. 23, last year. The second store in the Bicol region, Puregold hypermarket in Naga, Camarines Sur, opened Nov. 24.

Puregold opened 38 new stores in 2011, higher than the 22 opened a year earlier, to bring the total number of its branch network to 100, comprising 61 hypermarkets, 28 supermarkets (Puregold Jr.) and 11 discounters (Puregold Extra). As to locations, 53 stores are in Metro Manila, 16 are north of Metro Manila and 31 are south of Metro Manila.

The company said it plans to double the number of its stores by 2015 as it saturates further into the untapped Metro Manila and Luzon areas and as it expands into the Visayas and Mindanao.

The company said it will continue its aggressive expansion to further bolster its profitability. Another 25 branches are up for construction in 2013 as the grocery chain aims to further widen its presence across the country.

The local retail sector is poised for long-term growth on the back of higher consumer confidence and growing demand for retail space. By 2015, the wholesale and retail industry is expected to hit P1.74 trillion in sales, from the current estimated level of P1.4 trillion.