Listed retail firm Puregold Price Club Inc. saw a double-digit increase in its 2022 bottom line, following the increase in consumer demand as economies reopened after the COVID-19 pandemic.
In a regulatory filing, Puregold said its net income rose 13.5% to P9.287 billion from P8.180 billion the past year, as net sales jumped by 12.3% to P184.303 billion from P164.125 billion.
The company reported a 16.1% growth in its fourth-quarter topline, driven by holiday spending and the greater normalization of in-person activities during the period. The company ended 2022 with a total of 525 stores nationwide, after opening 24 new Puregold stores and six S&R quick service restaurants .
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