Cosco Capital reaps P151-B sales in 9 mos

Cosco Capital Inc., the retail and investment holding firm of Lucio Co-owned warehouse chain Puregold Price Club Inc. and S&R Membership Shopping Club, reaped more than P151 billion in terms of net sales, the company reported on Thursday for the last nine months.

In a statement, Cosco Capital head of Investor Relations and Sustainability John Hao said the company is set to conclude 2024 with a robust performance and a clear strategy toward growth and sustainability for 2025.

While diversifying its portfolio in different industries has proven to be an effective growth driver for the company, Hao said finding new ways to cater to customers’ needs and wants remains vital to Cosco’s success.

“We’ve always put a premium on innovation and customer satisfaction. We are committed to growing our businesses, reinforcing our dominance in the local market, and bringing our brands closer to our target markets.

This move has translated into consistent growth in sales and revenues, and increased shareholder confidence,” John Hao, head of investor relations and sustainability officer of Cosco Capital Inc., said.

Official numbers said that Cosco Capital Inc.’s grocery retailing businesses gained a 9.1 percent increase amounting to P151.97 billion in consolidated net sales from January to September 2024.

The growth is fueled by the group’s aggressive expansion strategy in Visayas and Mindanao and the aforementioned focus on customer satisfaction and best value to customers.

As of September 2024, the group opened 19 new Puregold stores, 3 S&R Membership Shopping Warehouses and 3 S&R New York Style QSRs.