Republic of the Philippines

BATANGAS STATE UNIVERSITY

The National Engineering University
College of Accountancy, Business, Economics and
International Hospitality Management
Pablo Borbon Campus
Rizal Avenue Extension, Batangas City

REQUIREMENT: SEMESTRAL PROJECT

STRATEGIC COST MANAGEMENT PAPER

PUREGOLD PRICE CLUB INCORPORATED

Bachelor of Science in Accountancy

Submitted by:

GROUP 5

Baluran, Christine C.
Casapao, Clyde Karyll S.
Dipasupil, Wrick Aldwin M.
Magsino, Keith Naeca D.
Manalo, Merlyn N.

Submitted to:
Prof. Lorenz Nicole C. Duna

April 2023
 I. INTRODUCTION

Company Profile

Puregold Price Club Inc. is a well-known retail company in the Philippines that
was established in 1998. With over 400 locations, including flagship Puregold stores,
S&R Membership Shopping, and NE Bodega Supermarkets, the company offers a
variety of consumer items including groceries, electronics and appliances. at affordable
prices. They source products directly from manufacturers, prioritize customer service,
and have a strong commitment to social responsibility through their CSR initiatives
such as disaster relief and environmental conservation. Puregold Price Club Inc.
operates through its hypermarket, Puregold Price Club, a supermarket chain called
Puregold Junior, and small stores called Puregold Extra. Their stores carry food,
clothing, home furnishings, furniture, and other items, with a network of over 280
retailers and 20 food service stalls. With a wide network of stores, a dedication to social
responsibility, and a reputation for quality, affordability and customer service in the
Philippines, Puregold Price Club Inc. remains a trusted and well-respected retail brand
in the Philippines.

Mission
● to provide products, services, and business opportunities to every Filipino
family
● establish a lasting relationship with our suppliers and business partners.
● to promote the personal and professional development of our employees

Vision
To be the Most Customer-Oriented Hypermart offering One-Stop Shopping
convenience and Best Value to our Customers.

Company History

Puregold was founded out of concern for the welfare and fate of its employees.
The Asian financial crisis of 1997 resulted in a shaky economy, fluctuating currency,
and an uncertain future. Faced with such difficulties, yet concerned about how their
dedicated employees would weather the storm, Lucio and Susan Co decided to try their
luck in local retailing, founding the first Puregold Price Club along Shaw Boulevard in
Mandaluyong City.

Puregold Price Club, Inc. (PGOLD) was incorporated on September 8, 1998 as

a company involved in the business of trading goods such as consumer products on a
wholesale and retail basis. The Company opened its first store in Mandaluyong City in
December 1998. PGOLD's loyalty program, “Tindahan ni Aling Puring”, was launched
in 2004.
 The Company conducts its operations through several retail formats and store
brands. Hypermarkets, through “Puregold Price Club”, offer a variety of food and non-
food products and generally cater to both retail customers and resellers such as members
of the Company's loyalty program. Supermarkets, through “Puregold Junior”, operate
as a neighborhood store which offers a higher proportion of food to non-food products
vis-a-vis the Company's hypermarkets. Discounters, through "Puregold Extra", operate
in a small store format that offers a more limited number of goods. Meanwhile, S&R
Membership Shopping adopts a warehouse club concept where most of the products
offered are in club packs. Most of the merchandise is imported brand names mostly
sourced from the US.

Among others, PGOLD also owns Entenso Equities, Inc., which is the holding
company for two companies, namely, Ayagold Retailers, Inc., and San Roque
Supermarkets. PPCI Subic, Inc. is operating one Puregold branch in Subic Bay,
Olongapo City. In 2018, PGOLD incorporated Pure Padala, Inc. mainly to operate the
remittance operation of the Company.

By the end of 2022, PGOLD was operating a total of 452 Puregold stores, 22
S&R membership shopping warehouses, and 51 S&R New York Style QSRs for a total
of 525 stores all over the country.

Other Relevant Data

Item Current Year Previous Year

Gross Revenue 187,486,733,075 167,334,586,517

Gross Expense 173,005,405,600 154,392,384,328

Income/(Loss) Before Tax 12,224,530,932 10,651,817,907

Net Income/(Loss) After Tax 9,287,426,858 8,180,021,763

Net Income/(Loss) Attributable to Parent 9,287,426,858 8,180,021,763

Earnings/(Loss) Per Share (Basic) 3.24 2.85

Earnings/(Loss) Per Share (Diluted) 3.24 2.85

Table 1.1: Current Revenue Size and Profit

 Item Current Year Previous Year

Current Assets 78,998,059,853 65,930,708,684

Total Assets 163,797,514,330 139,433,807,218

Current Liabilities 29,877,257,868 17,184,815,363

Total Liabilities 81,152,913,031 63,957,814,990

Retained Earnings/(Deficit) 53,994,499,048 47,171,476,499

Stockholders' Equity 82,644,601,299 75,475,992,228

Stockholders' Equity - Parent 82,644,601,299 75,475,992,228

Book Value Per Share 28.84 26.31

Table 1.2: Current Asset

Major Markets Served

Puregold is the No. 1 Hypermarket Retailer in the Philippines. With their

number of branches nationally, the company has been serving an increasing number of
Filipinos. They work with around 1500 suppliers and trading partners. They serve over
230,000 sari-sari stores and small enterprises in the Metro, various locations in
Northern and Southern Luzon, and Visayas with their exceptional services. Today, with
over 600,000,000 sales transactions, Puregold has grown into a successful giant retail
chain in the country.

Other Relevant Information

Puregold was named one of the "Most Trusted Brands" by Reader's Digest Asia.
In terms of net sales, they surpassed the second-largest hypermarket and
supermarket retailer in the Philippines. As of March 2023, their profit rose by 13.5%
despite the high inflation. The company still sees continuous growth in its topline in the
coming years due to the country’s healthy underlying fundamentals, underserved
demand, and relatively raw retail landscape. For the year, the company remained
committed to keeping high inventory levels and increased its business activities due to
expansion in more provincial areas.
 II. DISCUSSION

a. Strategic Management Philosophies Used by the Company

Leading Philippine retail organization Puregold Price Club Inc. provides a large
selection of goods at competitive prices. Puregold has adopted several strategic
management ideas over the years, which have aided it in growing into a flourishing and
lucrative company.

Puregold Price Club Inc. has used a variety of strategic management ideas to
help it become a successful and lucrative company. Its customer-centric strategy,
emphasis on efficiency and cost-effectiveness, innovative and adaptable culture, and
commitment to corporate social responsibility have all contributed to its success.
Puregold will undoubtedly continue to adopt new strategic management ideas as it
grows and expands to ensure that it remains a retail industry leader.

The following strategic management concepts are used by Puregold Price Club,
Inc.: Just-in-time (JIT) Philosophy, Balanced Scorecard (BSC), and SWOT Matrix.

Just-in-time (JIT) Philosophy

The key advantages of JIT include lower inventory costs, better quality control,
faster production times, and enhanced flexibility and response to client demand. JIT
can assist a company to free up capital and lower the risk of inventory obsolescence or
spoilage by minimizing the amount of inventory that it needs to maintain.

Puregold Price Inc., a retail company in the Philippines, has adopted the Just-
in-Time (JIT) philosophy. By utilizing JIT in its supply chain and inventory
management, the company has realized tremendous gains.

Puregold Price Inc. has used JIT in several ways, including closely cooperating
with its suppliers to keep inventory levels low while ensuring that products are available
when customers need them. As a result, the company has reduced the costs associated
with retaining extra inventory while simultaneously lowering the risk of inventory
obsolescence or spoilage. The key concept behind this theory is that there are no
significant stocks, and that constant replenishment is dependent on customer
purchasing power. This will enable the firm to save a significant amount of floor space,
decrease waste, and respond to client needs more swiftly.

JIT allowed Puregold to reduce operating expenses. They focused on efficiency

and planned carefully to achieve this. The business would only order the necessary
amount of consumable goods, as opposed to ordering extra products. Waste and
inefficiencies are identified and reduced to the greatest extent practicable. To achieve
the highest level of operation efficiency and quality while reducing costs, all available
resources, including people, materials, space, and time, are employed.

Balanced Scorecard

Puregold Price Inc., a Philippine retail company, has also used the Balanced
Scorecard (BSC) framework to analyze and manage its performance. The Business
Strategy Canvas (BSC) is a management tool that assists firms in aligning their
activities with their strategic objectives and tracking progress toward those objectives.

From a financial standpoint, Puregold's strategic goals include boosting

shareholder value, increasing profitability, and growing revenue. The organization
tracks important financial indicators such as sales growth, profit margins, return on
investment (ROI), and profits per share (EPS) to determine how well it is doing in
achieving these goals.

Learning and Growth. This topic investigates learning and growth through the
examination of training and knowledge sources. It focuses on how well data is collected
and how well employees use that data to get a competitive advantage in the business.
This viewpoint assesses a company's ability to innovate, improve, and learn.

Puregold, which is owned by retail magnate Lucio Co, also operates S&R
private membership warehouses. In 2020, the company and its subsidiaries operated
501 stores. Puregold stores account for most of its sales.

As part of its efforts to achieve record profits each year, the outlet would pursue
acquisitions and expand into new geographic locations where the supermarket chain
does not currently operate. The company presently has 422 outlets countrywide and
plans to woo clients away from competitors' supermarkets and grocers - the company
hopes to establish 500 stores within the next five years. In comparison to Luzon, the
organization has fewer stores built in Visayas and Mindanao. It could be an excellent
opportunity for the company to expand its presence in that region.

Internal business processes. In this part, it is discussed how the company

achieved exceptional shareholder and customer satisfaction. According to this
perspective, to satisfy customer expectations, internal business procedures, core skills,
and technological requirements are all evaluated.

The mobile app and online shopping cart were launched by Puregold Price Club,
Inc. in January 2020. In response to the COVID-19 pandemic, the business increased
the number of internet services it provided and enabled online shopping for customers.
Particularly since that travel is restricted owing to quarantine, this will provide our
consumers additional convenience, according to Puregold.
 Cashless payments are a great addition to the business given the rapid
advancement of technology and because they would speed up transactions and,
consequently, increase sales both online and in physical stores. In addition, the business
advertises itself through online websites, national and regional publications, social
media sites, and printed advertisements.

Customer Perspective. Price is one of the main things that clients at Puregold
keep in mind while making purchases. In order to help consumers who want to cut costs
on their groceries, Puregold Price Inc. offers a variety of goods at reasonable prices.
The company's slogan, "Sulit sa Presyo, Sulit sa Quality" (Value for Price, Value for
Quality), highlights their dedication to offering high-quality items at competitive costs.

Throughout the Philippines, Puregold Price Club, Inc. is in the business of

acquiring, distributing, and marketing goods and commodities at wholesale or retail
prices. The pricing of Puregold is significantly more affordable and accessible to the
public than that of its biggest rivals, Shopwise, and SM Investments.

To help clients get the most out of their program membership, the company
established the "Puregold Perks Card," as well as Tindahan ni Aling Puring (TNAP), a
loyalty and membership program for resellers. Puregold's Primary Clients are Sari-
Sari Stores, Karinderya, Canteen, Catering Owners, Bulk Purchasers, Wholesalers, and
Other Resellers, and TNAP is a program designed exclusively for them. Apart from
Puregold Jr., TNAP members can earn up to 3% back in rebates by earning points on
their TNAP cards whenever they make a purchase at any Puregold branch. Points can
also be redeemed and used to pay for products.

Financial data. When assessing the performance and development potential of

a publicly listed firm, financial data is a key component that investors, analysts, and
stakeholders consider. This viewpoint asks how the company should appear to its
shareholders to show that it is financially successful. By analyzing profitability and
shareholder value, this point of view determines whether the organization's bottom line
is growing.

Due to improved sales, Puregold Price Club, Inc. had its consolidated net
income climb by 13.5% to P9.23 billion in 2022 from P8.18 billion in the prior year.
According to Puregold, same-store sales growth and new-store growth drove
consolidated net sales up 12.3% to P184.30 billion from P164.13 billion the previous
year.

Additionally, the cost of sales increased by 12.3% to P150.48 billion from

P134.04 billion as reported the year prior. The same goes for gross earnings, which
increased in 2022 by 12.4% to P33.82 billion from P30.08 billion. 24 additional
Puregold stores have been added by the company so far this year, bringing the group's
total network of stores to 525.
 By the end of 2022, there were 48 S&R New York Style fast service restaurants,
22 S&R membership shopping warehouses, and 452 Puregold outlets.

Despite facing difficulties at the same time, Puregold performed remarkably

well overall in comparison to the standards set by the retail sector. BSC was used to
help Puregold express its vision and strategy and put them into action. The business
was able to allow efficient and reliable communication since everyone used the same
measurement language. Along with focusing on the most important criteria, they
promoted regular assessments and made sure the organization maintained its
organizational alignment.

Other Relevant Data

Figure 1.1

b. Cost Management Techniques Adopted by Puregold Price Club,

Inc.

Cost management techniques are crucial for businesses as they involve the
process of planning and controlling budgets. By predicting expenses, businesses can
avoid overspending, making cost management an essential aspect of effective business
management. The system involves the identification, collection, classification, and
collation of information that managers can use for planning, controlling, and decision-
making, all while keeping costs within desirable limits. The information held by cost
management systems is vital for strategic management, planning and decision-making,
management, and operational control, as well as the preparation of financial statements.
For Puregold Price Club Inc., these techniques can help build a competitive advantage
by providing valuable insights for forecasting future expenses and reducing the risks of
budget overruns.

World Class Benchmarking of Puregold Price Club, Inc.

Figure 1.2

Benchmarking is a process of measuring a company's performance against that

of the industry's best, with the aim of identifying opportunities for internal
improvement. Figure 1.2 provides data that can be applied to Puregold Price Club, Inc.'s
benchmarking efforts. While the company's profitable growth rate of 3 was unchanged
from the previous period, it is still considered above average compared to the 570 major
consumer staples companies worldwide. On the other hand, the unchanged profitability
rank of 3 may indicate a poor performance compared to peers. In contrast, the growth
rank of 4 represents an above-average result, being higher than the 5th rank achieved
in the previous period. Therefore, benchmarking can help Puregold Price Club, Inc.
identify areas of improvement and strive towards achieving better performance.

Life-Cycle Costs

Life-Cycle Costs is an assessment approach that considers the total cost of an

asset throughout its life cycle, including initial capital expenditures, maintenance costs,
operating costs, and the asset's residual value at the end of its useful life.

Puregold, like most grocery stores, offers a wide range of products at various
stages of their product life cycles. The company's competitive advantage lies in its
ability to offer affordable prices to customers and resellers alike. Puregold's strategy of
partnering with sari-sari store owners also helps to secure their financial stability.
 Puregold's distribution model, which involves restocking and direct store
delivery, provides their suppliers with an advantage since the company handles all of
their purchases. Additionally, Puregold offers cross-dock facilities, store-to-store
transfers, and importation services to help customers obtain high-quality products at
prices that fit their budgets.

Enterprise Risk Management

Puregold Price Club, Inc. has encountered various hazards and risks since its
inception, and this demonstrates how the company has managed these risks and the
impact they have had on the business. Midas Investments Research has identified
several risks that Puregold has faced and their respective impacts on the company.

Remittance Risks

Minimal on PGOLD’s Broad-Based Play. The current slowdown in the

global economy has the potential to significantly impact the remittances from Overseas
Filipino Workers (OFW) that drive local consumption growth. The United States
accounts for 53% of these remittances, while Europe accounts for 17%, which puts a
significant percentage of these remittances at risk due to the ongoing recession in
countries within the same region.

Figure 1.3: World GDP Growth Rate and

OFW Remittances Growth Rate

Figure 1.4: Philippine Population and

Philippine Private Consumption
 The growth of remittances is influenced by the state of the global economy as
indicated by GDP growth. However, OFW remittances tend to show growth even
during times of economic recession, as shown in Figure 1.3. The Philippines' above-
average population growth rate of 2.0 percent contributes to the rapid expansion of
domestic consumption and ensures a steady increase in consumption. Private spending
is projected to rise in line with population growth, reaching P7.68 billion by 2012, as
depicted in Figure 1.4.

Given its diverse portfolio, PGOLD is well-positioned to mitigate risks

associated with remittances. Demand for staples such as food, which accounts for 70%
of PGOLD's SKUs, is likely to continue to rise regardless of economic fluctuations.

Competitive Risks

Local player SM increases its food retail operation. As modern grocery retail
continues to evolve, SM is expected to face more competition. In addition to strategic
acquisitions, SM plans to open 30 stores annually, surpassing PGOLD's target of 25
locations. This aggressive expansion plan is financially feasible due to the substantial
financial resources of the SM conglomerate led by entrepreneur Henry Sy. However, it
could lead to price wars and competition for desirable locations, resulting in negative
impacts on profits and leasing costs that impede organic growth.

To combat increased competition, PGOLD follows its Everyday Low Price

(EDLP) strategy, expands its range of high-margin products, and strengthens
relationships with suppliers. The company plans to increase the space allotted to high-
margin items such as newly created goods, general merchandise, and small clothing
from 10-15% of the per-store net selling area to 20-25%. In contrast to SM, PGOLD
maintains close relationships with suppliers by limiting private label products and
negotiating lower rates.

PGOLD's strong hold on resellers is a significant advantage over SM. The

TNAP drive, a significant effort by a modern retailer, aims to capture the pervasive
sari-sari store, which is a prevalent traditional retailing industry. Puregold Extra, a
discounter format, offers low prices on the most popular SKUs to meet the needs of
sari-sari businesses.

Regulatory Risks

Trade Liberalization Sees Potential for Entry of Foreign Retailers. The

deregulation of foreign ownership in the Philippines through the Trade Liberalization
Act of 2000 has opened the food retail industry to multinational corporations,
potentially leading to regulatory concerns. While no international retailers have entered
the hypermarket or general store formats, Dairy Farm, the largest retailer in the Asia
Pacific with operations in 10 countries, recently acquired a 50% stake in Rustan's retail
organization. However, PGOLD's focus on catering to local markets through its
emphasis on affiliates and the TNAP program, with its 220,000 members, gives the
company an advantage in securing sari-sari retailers as a first mover, thus reducing risks
associated with foreign competition.

Operational Risk

Expansion to the Vis-Min region. The expansion into the Vis-Min region
is a crucial driver of PGOLD's growth strategy, but it also poses significant operational
risks. The asset-light store network model, which has been successful in Metro Manila
and Luzon, has yet to be tested in the Vis-Min area. The potential for growth in Vis-
Min's 91 hypermarkets may be limited by disruptions in the supply chain, resulting in
higher operating costs, lower profits, or both. PGOLD is attempting to mitigate this risk
by relying on regional distribution from vendors with regional depots.

To replicate its operations outside of Luzon, PGOLD has opened a store in

Palawan before a full rollout in Vis-Min. Building warehouses is also an option in Vis-
Min. Senior managers from existing stores in Metro Manila and Luzon will be assigned
to new Vis-Min store sites to help them learn about a new market. Given its similar
geography to Luzon and lower retail saturation than Visayas, Mindanao is expected to
have a higher chance of replicating PGOLD's current operational model. As a result,
Mindanao should be prioritized for growth.

Governance Risk

Related-Party Transactions. Transactions involving related parties can pose

governance risks. For instance, PGOLD has a 30-year license agreement with Lucio
Co, which mandates an annual payment of 0.02% of the company's net sales for the use
of the Co family's trademark names. A significant portion of the company's outflows to
related parties is attributable to the leasing of 25 retail sites owned by the Co family.
This has led to disagreements between public shareholders and the Co family over the
uncertainty surrounding the license and leasing renewals. Additionally, PGOLD's
compliance with the SEC's Manual of Corporate Governance, particularly regarding
audit-related regulations, was lacking as of 2011.
 Figure 1.5: Related Party Transactions as
% of Operating Expenses

To comply with the SEC's Manual of Corporate Governance, PGOLD has

established three new board committees, namely the Audit Committee, the Nomination
Committee, and the Compensation Committee. The company has also approved the
charter for the Audit Committee, which is now in effect. As of the third quarter of 2012,
PGOLD was fully compliant with the Manual of Corporate Governance, surpassing the
95% average compliance rating of the 30 PSE index companies across 75 compliance
standards. Furthermore, the company has implemented stricter controls over its leasing
agreements, resulting in a reduction in related party transactions as a percentage of
operational expenditures from 19% in 2011 to 10% in 2016 (see Figure 1.5).

Valuation Risks

Figure 1.6: Result of Monte Carlo Simulation

The long-term component of PGOLD's intrinsic value accounts for 89% of its
total value, highlighting the importance of the terminal growth rate. A Monte Carlo
simulation revealed that the probability of recommending a SELL was as low as 2%,
while the confidence level for recommending a BUY was 61% (refer to Figure 1.5).
Furthermore, PGOLD's defensive characteristics make it a resilient investment option
even if the permanent growth rate falls below its target, potentially warranting a Hold
rating for up to 37% of investors.
III. CONCLUSION
a. Proposed solution or changes.

With a reputation for providing affordable products, being a prominent

company and distributor in the Philippines, and having a high level of customer loyalty,
Puregold is the second-biggest grocery retailer in the country. The organization,
however, lacks the inventive methodology that should be tailored to its customers' and
investors' wants and aspirations. As a result, to successfully address the company's
problems, the strategic vision must be strengthened. This company needs to find new
product strategies in the market to grow its business. Businesses also must invest more
in research and development to gain greater insight into the market, corporate patterns,
other viable innovations, and national development.

Along with the given history of Puregold, which was seen to grow from basic
scratch, its goal to provide the best quality and service for its employees and customers
has remarked the entire nation with its capacities. The given hindrances which were
faced by the company were namely several crises faced like the unsteady economy,
fluctuating currency, and an unexpected prediction or forecast along with the ongoing
price hike or the most tragic issue being faced by our country today in terms of
purchasing which is the high inflation rate. Yet, despite the mentioned scenarios, it is
still visible how the company retained its value and how people continue to support this
brand.

For the sake of the issues to be mitigated, product-life cycle costing is vital.
Typically, the costs of products, labor, and overhead are utilized to compute unit costs.
Manufacturing costs are computed using job order costing and process costing. Today,
this method is viewed as being too narrow, inadequately thorough, unpredictable, and
insufficient to give decision-makers an accurate and comprehensive overview of the
entire product’s life costing procedure. Consequently, the sales price is probably going
to be volatile over time if the calculated cost is not tactical. The concept of life-cycle
costs was developed to overcome this drawback of conventional costing techniques and
to consider new modes of operation.

For solutions or changes, the best possible way is to continuously aim for a
constant price range. Nowadays, businesses must commence measures and make
investments in supply chain sustainability and resilience considering the rising cost of
lifestyle. Firms can find domestic alternatives, diversify their suppliers, and stockpile
up on commodities that are very sensitive to price changes. Advertising strategies
should be strengthened and expanded to target consumers who are able to embrace
higher pricing as a more effective means to increase sales volume. Furthermore, you
can avoid utilizing money on unnecessary production costs like elaborate packaging by
purchasing non-perishable supplies in bulk.
 b. Recommendation

Market Forecasting

The business can also provide more detailed plans and progress for the
following events that may occur in both internal and external factors. Forecasting
possible solutions to problems that may soon arise can help firms generate a more
sustainable and adaptable environment to work in. Moreover, in furtherance of doing a
root-cause analysis, Puregold can prioritize the concern based on its size, possible
impact, and urgency.

Focus on Consumers’ Feedbacks

Implementing one of the most prevalent actions undertaken by small

businesses—accepting constructive criticism and end-user feedback—could transform
all enterprises, perhaps most significantly Puregold. The company may cultivate a more
flexible public image in this way, which will undoubtedly keep its trademark.

Product Development

The company ought to broaden its range of goods and services across all retail
configurations to drive up sales and perhaps draw in new types of customers. Apart
from contributing to increasing variability and offering a wider selection of products,
they also help the company diminish the possibility that new, comparable goods will
enter the market and potentially have an impact on its internal and/or external
environment.

Market Development

Since expanding the investment of shareholders through expansion improves

the likelihood of recuperating the company's return on investment and revenue it is
imperative to introduce existing products and services into new geographic areas. On
top of that, build Puregold or Puregold Jr. branches in suburban areas based on
accessibility in the intended location with the goal of taking advantage of the market.

Prominent Participant in the Sector's Consolidation

By decisively growing its store network, PUREGOLD could maintain its

position as the dominant player in the modern food retail industry, notably outside of
Metro Manila where contemporary retail penetration is considerably lower. We
anticipate that growth in same-store sales will continue to trend up and overall
profitability will expand because there is less intense competition in these areas and
lower operational costs.
Market Penetration

To qualify for a business to grow beyond a long-term competitive advantage, it

is of the utmost importance to seek and carry out a boost in market share for its current
offerings in the present marketplace through flourished advertising efforts. Through the
implementation of innovative marketing and sales campaigns to entice customers to use
Puregold's services, such as discount cards, they may effectively communicate their
purpose and objective of offering affordable products on their premises.
IV. REFERENCES

Gonzales, I. (2023). Puregold profit rises by 13.5%. Philstar Global. Retrieved May 1,
2023, from https://www.philstar.com/business/2023/03/30/2255427/puregold-
profit-rises-135

Puregold History (2023). PUREGOLD. Retrieved May 1, 2023,

from http://puregoldbeta.webtogo.com.ph/company.do?category_id=6844

Puregold Mission and Vision (2017) PUREGOLD. Retrieved May 1, 2023,

from https://corporate.puregold.com.ph/mission-and-vision/

Puregold Price Club, Inc. Company Information. (n.d.). PSE EDGE. Retrieved April
29, 2023, from
https://edge.pse.com.ph/companyPage/financial_reports_view.do?cmpy_id=6
29

Canivel R. (2022). Puregold plans P1.2B expansion this year. Retrieved May 5, 2023,
from
https://business.inquirer.net/348208/puregold-plans-p12-5-b-expansion-this-year

Revised Manual of Corporate Governance. Retrieved May 5, 2023, from

https://corporate.puregold.com.ph/wp-content/pgold-data/IACGR/Annex%20(30)-
Revised%20Manual%20of%20Corporate%20Governance.pdf

Halili, A. (2023). Puregold net income up 13.5% to 9B as sales arise. Retrieved May 5,
2023, from
https://www.bworldonline.com/corporate/2023/03/29/513595/puregold-net-income-
up-13-5-to-p9b-as-sales-rise/

Become a Better Investor (2019, October 23). Puregold Price Club - World Class
Benchmarking. Becomeabetterinvestor. Retrieved May 06, 2023, from
https://becomeabetterinvestor.net/puregold-price-club-world-class-
benchmarking/
Cangas, J. R. (2017), A Strategic Management Paper on Puregold. Review of A
Strategic Management Paper on Puregold, 1-11.

Hughes, J. (n.d.). Just In Time (JIT) Vs Supermarkets. Street Directory. Retrieved May
06, 2023, from https://www.streetdirectory.com/etoday/-wuucau.html

Ingram, D. (2020) Product Life Cycle for Grocery Stores, Chron. Retrieved May 06,
2023, from https://smallbusiness.chron.com/product-life-cycle-grocery-stores-
80485.html

Services Sector Retail Industry. (2012). Midas Investments Research, CFA Institute
Research Challenge, 1-12.