May 10, 2019 / 07:00AM GMT
Operator
Ladies and gentlemen, welcome to Puregold First Quarter 2019 Results Briefing. John Hao, please begin.
John Marson T. Hao - Puregold Price Club, Inc. - VP of IR
Hi, good afternoon, everyone. Welcome to Puregold's First Quarter 2019 Results Briefing. I have here with me Mr. Anthony Sy, the President of S&R; and [Ms. Maricel Gambed], our Senior Finance Manager.
So we have sent out the presentation pack earlier, this lunch. I hope everybody reviewed it. So we will have to go on with the presentation.
Kindly refer to Slide 6. So during the first quarter, Puregold has opened 8 stores and 1 S&R warehouse in Lipa. So currently, we're operating 417 stores with a consolidated net selling area of more than 550,000 square meters. Our consolidated net sales expanded by 12.8% in the first quarter, with 76% of the revenue coming from Puregold.
Our gross profit grew by 11.2% in the first quarter with a gross profit margin of 17.4%. Operating income increased by 9.1% with an operating margin of 7.4%, and consolidated net income grew by 11.9%
Q1 2019 Puregold Price Club Inc Earnings Call Transcript
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