Puregold allots P200M for Parco refurbishment

MANILA, Philippines - Retail chain operator Puregold Price Club Inc. is allotting P200 million for the refurbishment of its 19 Parco Supermarkets to give them a new, modern look and attract more customers.

In briefing late Thursday, Puregold investor relations head Jimmy Perez said the group aims to bring all its facilities to higher standards. “We want to change the physical appearance of Parco, thus we are renovating it,” he said.

Puregold acquired Parco’s 19 operating outlets for P760 million to take advantage of the growing consumer needs of the mass market. Of Parco’s total store network, 12 are located in Metro Manila, three in Bulacan and four in Rizal.

The purchase was also in line with Puregold’s goal to double its store network by 2015 as it expands into the Visayas and Mindanao.

Perez said Parco contributed 1.2 percent to the group’s total revenues in the first half of the year amounting to P23.3 billion. Anchor brand Puregold cornered the lion’s share at 91.6 percent, while high-end warehouse club operator S&R chipped in 2.7 percent.

Traffic growth at Parco increased 7.1 percent while average net ticket price amounted to P364 million.

For S&R, the group plans to build one store a year to bring total branch network to 10 in five years. It will open one in Davao sometime April or May next year and another one at the former site of Cherry Foodarama along Shaw Blvd.

The group said it has been selective in its choice of sites as it is just starting to tap into the discerning A and B markets.

S & R has more than 214,700 members across the country. It operates six stores located in Bonifacio Global City; Congressional Ave. in Quezon City; Alabang, Muntinlupa; Aseana Business Park in Baclaran; San Fernando in Pampanga; and Mandaue City in Cebu.