C00017-2018

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jan 2, 2018
2. SEC Identification Number
A199813754
3. BIR Tax Identification No.
201-277-095
4. Exact name of issuer as specified in its charter
Puregold Price Club, Inc.
5. Province, country or other jurisdiction of incorporation
Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
No. 900 Romualdez St., Paco, Manila Postal Code 1007
8. Issuer's telephone number, including area code
(632) 522-8801 to 04
9. Former name or former address, if changed since last report
None
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 2,765,381,406
11. Indicate the item numbers reported herein
Other Matters

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Puregold Price Club, Inc.PGOLD

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

News Article entitled "Puregold to open 25 stores this year" posted in Business World dated January 2, 2018.
Source Business World (Internet Edition).
Subject of News Report Puregold to open 25 stores this year
Date of Publication Jan 2, 2018
Clarification of News Report

In reply to your letter dated January 2, 2018 requesting for the clarification or confirmation of the news article posted in BusinessWorld (internet edition) dated January 2, 2018, which is quoted here below:

“Puregold to open 25 new stores this year”

By Arra B. Francia,Reporter

PUREGOLD Price Club, Inc. will continue the expansion of its supermarket business in 2018 as it plans to open 25 new stores.
“We plan to roll out 25 new Puregold stores in 2018,” Puregold Vice-President for Investor Relations John Marson T. Hao said in an e-mail.
This will be the same number of stores Puregold has targeted to open last year. By the end of September 2017, the company had a total of 352 stores nationwide — comprised of 291 Puregold stores, 13 S&R membership shopping warehouses, 31 S&R New York Style quick service restaurants, nine NE Bodega Supermarkets, and eight Budgetlane Supermarkets.

Aside from expanding the Puregold brand, tycoon Lucio L. Co’s company will also be opening two more S&R warehouses in 2018.
Mr. Hao, however, declined to disclose the locations of the new stores. Last year, Puregold focused on expanding its footprint outside Luzon, as it tried to accelerate growth by entering new geographic areas.

Asked if the company would consider more acquisitions, the Puregold executive said they remain open should opportunities arise.
“We are always on the look out for possible M&A (mergers and acquisitions) of other supermarket chains,” Mr. Hao said.
The listed grocery operator has also given a positive outlook for 2018 given the implementation of the tax reform program.
“2018 will be exciting due to the tax reform by the government,” Mr. Hao said.

The first package of the Tax Reform for Acceleration and Inclusion program took effect on Jan. 1. The Department of Finance said the new law will allow employees to pocket higher take home pay, starting with those earning lower than P250,000 annually who will now be exempted from personal taxes.

Analysts said consumer stocks are to directly benefit from the tax reform program as Filipinos have more money to spend.
“Consumer-related sector is almost a given the increased disposable income of the Filipinos,” PCCI Securities Brokers Corp. Research Head Joseph James F. Lago said in a separate e-mail.

Incorporated in 1998, Puregold’s core business is in the trading of goods, particularly consumer products such as canned goods, housewares, toiletries, dry goods, food products, pharmaceutical and medical goods on a wholesale and retail basis.

The company’s stores operate in various formats, namely Puregold Price Club that caters to both retail customers and resellers; Puregold Junior, its neighborhood store format, and Puregold Extra, which are smaller stores that offer a more limited choice of goods.

Puregold realized a 6% increase in net income attributable to the parent in the first nine months of 2017 to P3.9 billion, following an 11% uptick in revenues to P90 billion during the same period."

We confirm the said news article that Puregold plans to open 25 new stores and 2 S&R warehouses in 2018.

Thank you.
Other Relevant Information

None
Filed on behalf by:
Name Candy Dacanay-Datuon
Designation Corporate Secretary