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Transcript of management15
The Company’s customers comprise retail consumers and small business owners who resell products in local neighborhood convenience stores known as “sari-sari” stores, as well as canteens, restaurants, bakeries and drug stores, among others.
The Company promotes a one-stop shopping concept of having a wide selection of goods to further serve it value-conscious consumers and resellers. The advent of one-stop shopping convenience began in 1998 when PUREGOLD opened its first branch along Shaw Blvd. in Mandaluyong City. MISSION Our Mission is to Provide Products, Services and Business Opportunities to Every Filipino Family.
We Establish Lasting Relationship with Our Suppliers and Business Partners.
We Strive to Promote the Personal and Professional Development of our Employees.
We Commit Profitable Results to the Stockholders.
Sa bawat araw, PUREGOLD kasama mo! VISION To be the Most Customer-Oriented Hypermart offering a One-Stop Shopping convenience and Best Value to our Customers.
Sa PUREGOLD, Always Panalo! ESSENTIAL COMPONENTS Evaluation Matrix YES NO Customer
Concern for Survival, Growth and Profitability
Concern for Public Image
Concern for Employee VALUES Sense of Belonging
Feeling that one has an essential role to play as part of the PUREGOLD family
Providing products and services that meet the demands and expectations of customers
Open, adaptive and responsive to the changing environment
Dedicated and conscientious focus on work
Integrity and Loyalty
Honor, credibility, honesty, dignity, "palabra de honor", "walking the talk" During that time, the one-stop shopping philosophy was still a novel idea to consumers but with the excellent service and quality products it provided, it did not take long for Puregold to make its mark in the retail industry. HISTORY Lucio L. Co has been a Director and the Chairman of the company since it was incorporated in September 1998. Mr Co. has been duly elected to hold office as Director for one year and until his successor is elected and qualified. Mr. Co has been an entrepreneur for the past 40 years. Susan P. Co has been a Director and the Vice Chairman and the Treasurer of the Company since it was incorporated in September 1998. Ms. Co received a Bachelor of Science in Commerce from the University of Santo Tomas. Leonardo B. Dayao has been a Director and the President of the Company since 1998. Mr. Dayao has been duly elected to hold office as Director for one year and until his successor is elected and qualified. Mr. Dayao received a Bachelor of Science degree in Commerce from the Far Eastern University. Iralda B. de Guzman is the Senior Vice-President of the Company, and has been with the company since September 19, 1999. Ms. De Guzman received a Bachelor of Science in Commerce Major in Economics degree from the Polytechnic University of the Philippines, Cum Laude. She also studied Supermarket Management Operations at Fleming Institute in Oklahoma City, Oklahoma, USA. Denise Maria D. Carolino has been the Vice President for Administration since 1999. Ms. Carolino received a Bachelor of Science degree from the University of Santo Tomas and the Architect’s Licensure Examinations in 1986. Erlinda G. Orro has been the Financial Comptroller of the Company since 2005. Ms. Orro received a Bachelor of Science degree in Commerce from the University of Pangasinan and is a Certified Public Accountant. Andres S. Santos has been the legal Counsel of the Company since 2005. He received a Bachelor of Arts degree from Arellano University and a Bachelor of laws degree from the University of the East. Marrisa delos Reyes has been the Senior Manager for Accounting since April 2011. Ms Delos Reyes has a Bachelor of Science degree in Accounting from the Philippine School of Business Administration and is a licensed Certified Public Accountant. CUSTOMER-BASED PRICING
Following the survey Puregold can now decide appropriate amount to add in the cost of the product they bought from their suppliers.
Every time a new Puregold store opens they always sets up “introductory price” or “introductory offer”- meaning they sets relatively low initial price, usually lower than the intended established price, to attract new customers. SURVEY
Puregold stores are divided into six product category namely food, non-food, produce, fashion, and home. Puregold in order to price their products, it conduct surveys for them to know if their price is just right for their target markets. They make sure that their prices are not too expensive and not too cheap compared to others products. They do these survey because Puregold always take into account their customers. That is why they are called “pang-masa” which means that majority of the people can afford their products. COMPETITOR-BASED PRICING
If there is strong competition in a market, customers are faced with a wide choice of who to buy from. They may buy from the cheapest provider or perhaps from the one which offers the best customer service.
Since Puregold is often called “MASA” they are actually providing low prices than that of their competitors like SM Hypermarket. Puregold get their products in bulk from different suppliers or distributor. These products are delivered straight to Puregold warehouses where it will be displayed. Whenever a product is pulled out from the warehouse for sale, a merchandiser checks its inventory. EVENTS
Dose-dosenang Panalo at Papremyo
In celebrating its 12th year anniversary, Puregold launches “Dose-dosenang Panalo at Papremyo”. This is Puregold’s way of thanking its loyal customers for its continued patronage. FOOD
These include pastries, junk foods, canned goods, instant noodles, and other food items including dairy products like eggs, butter, milk etc. NON-FOOD
These are dry products which include soap, shampoo, toothpaste or any other things use for hygiene. Pesticides and other insect repellents are also in this category. PRODUCE
Produce these are wet products. It includes pork, chicken, beef, fish and other processed foods like hotdogs, ham, etc.
In this section, also include fresh fruits and vegetables. FASHION
Fashion section includes clothing, footwear, accessories, or any beauty products. MEDIA RELEASES
Every time Puregold opens a new store or branch, “Eat Bulaga”, a leading noontime show, announces it. The show uses Puregold gift certificates as prizes to winners of its segment, “Juan for All, All for Juan.” This has been a part of Puregold’s advertising campaign. Eat Bulaga’s show also caters other segments for Puregold promotion which includes:
Tindahan Mo, Asenso Mo
Hakot panalo, Instant Panalo
Scratch, Spin & Play to Win
These segments give away cash prizes and shopping spree to loyal Puregold shoppers. HOME APPLIANCES
Electrical/mechanical machines which accomplish some household functions, such as cooking, entertainment and cleaning. DISCOUNTING
Puregold is always conducting a 3 discount days for its loyal customers. INFORMATION
They provide posters and flyers of their products. There are a total of 100 retail outlets in 31 cities and 23 municipalities nationwide. These stores are located in Metro Manila with 53 stores, in North Luzon with 16 stores, and in South Luzon with 31 stores.
Hypermarkets are strategically placed in close proximity to major intersections and transportation hubs. Supermarkets and Discounter are located near residential areas. Puregold's business operation flow is simple --- it buys and sells goods to earn profit.
Puregold supermarket get its products by ordering from respective suppliers or distributors. It ensures to get the products in the cheapest price without compromising its quality standards.
The supplier or distributor delivers the orders to Puregold’s warehouses where the merchandiser of its product arranges it by category such as by food, non-food, produce, non-produce, fashion, and home. The merchandiser of each product always checks the inventory whenever a product is pulled out for resale. Once the products are displayed in stores, they are now ready to be sold to Puregold's loyal customers and shoppers. Puregold truly gives customer satisfaction and quality service . Puregold continues to offer great value and shopping convenience to its customers. Their service does not begin and end at the customer service counter. Every customer assistant on the floor ensures that customers are comfortable and satisfied with their shopping experience. With over 1,500 regular suppliers, the Company’s supplier base is diversified between local suppliers such as San Miguel Corporation and Universal Robina Corporation, and multinational corporations such as Nestle, Unilever and Procter & Gamble. The Company selects its suppliers using a number of criteria, including product assortment and quality, brand reputation, supplier’s capacity and compliance with the Company’s commercial principles. Puregold managed to build a large recruitment nationwide. As a separate function to their business, the HR Planning Function is to significantly improve the quality of people deployed to challenging environments.
Application for employment shall be considered on the basis of qualification, experience, ability, and desirability of the applicant for the job. Those applicants who are recruited from an agency will need undergo a training and development program before being employed. Newly appointed employees shall be oriented on the general policies, procedures and structure of the company and on the specific requirements of the jobs to which they are assigned to. The labor management that they employ:
1. Code of Conduct which is the government mandatory.
a. 13th month pay
4. Health Card
The Company motivates its employees by giving rewards recognition to dedicated employees. Promotions are also given to employees with excellent performances.
Puregold gives teambuilding workshops that will help employees to level up leadership capabilities, which will help them in decision making and develop their leadership skills in difficult times. Puregold also grants educational scholarship program to the children of qualified Puregold employees. The program aims to provide assistance to employees in sending their children to school in the company’s pursuit of affording a better life to its loyal and deserving employees and their families. It is a Management’s way of recognizing the notable contributions of its employees in the organization. The program covers educational scholarship grant to De La Salle University for Secondary (High School) and College education and to any State University for College education. 1. Leading hypermarket and supermarket operator in the Philippines.
2. Well recognized brand.
3. Established relationships with key business partners.
4. Multi-format, efficient and scalable business model.
5. Advanced management information system.
6. First retailer to launch wholesale loyalty program.
7. Strong and experienced management team. 1. The Company’s retail business depends on its ability to source and sell the appropriate mix of products to suit consumer preferences.
2. The success of the Company’s business depends in part on the Company’s ability to develop and maintain good relationships with its current and future suppliers.
3. Its counter service, because of the employees who are just came in an agency. 1. The Company may experience difficulty in implementing its growth strategy.
2. The Company may experience difficulties in expanding into the Visayas and Mindanao.
3. The Company may not be able to maintain or improve store sales.
4. New stores may place a greater burden on the Company’s existing resources and adversely affect its business. 1. Hypermarkets and supermarkets are expected to be among the fastest growing retail formats within the modern food retail sector.
2. Expand in the areas of Visayas and Mindanao. Company assesses through informal market research whether a proposed store will be within the catchment area of, and easily accessible by, its target customers.
Puregold’ stores development as of August 2012, currently has a total of 134 stores, comprising 109 Puregold outlets (66 hypermarkets, 32 supermarkets and 11 discounters), six S&R Membership Shopping Club and 19 Parco supermarkets. The remaining 16 new store locations contracted and in various stages of design development and construction.
Puregold is also improving its operation process and starting to achieve the ISO standard. Growth Strategies:
1. Expand operations in existing markets as well as the Visayas and Mindanao regions
2. Continue to focus on price competitiveness through leveraging scale and operating efficiencies and by continuing promotional activities
3. Further development and increase awareness of the Puregold brand
4. Continue to use advanced IT system to manage product assortment
5. Continue to attract customers by improving and renovating stores
6. Continue to build on synergies with key partners and customers The Company intends to open 25 new stores in the next 12months. In relation to the expansion plan, the Company will require additional workforce of a total of 3,557 employees. Government approvals
Puregold and its subsidiary have obtained all permits, licences and approvals from national and local government units and other government agencies necessary to conduct and/or lease supermarket buildings and operate the same. Effect of existing government regulations
Puregold and its subsidiary have to knowledge of recent or probable government regulation that may have material adverse effect on the business operation or financial position of the Company and its subsidiary. Cost and effect of compliance with environment laws
The Company estimates its annual cost for maintaining and renewing the ECCs and other environment permits for all its existing stores as of the date of this prospectus to be P2.6 million. Puregold purchases 19 Parco branches
Puregold Price Club Inc. has acquired 19 operating branches of Parco supermarkets from the Gant Group of Companies Inc. In a disclosure to the Philippine Stock Exchange (PSE), Puregold said that the bourse has approved their acquisition of the Parco supermarket branches. According to a statement, the acquisition shall be via the purchase by Puregold of all the outstanding shares of stocks of the selling company. Puregold Gets Four
Laguna Lake Development Authority headed by its General Manager, Mr. Rodrigo E. Cabrera, in a night of recognition of socially responsible companies conferred awards to various industries in the Laguna Lake Region for its good environmental performance for the year 2009. The awards were in compliance with effluent standards and with the regulatory requirements set by LLDA.
Puregold received a total of four Blue Rating for the 5th Cycle of the Laguna Lake Region Public Disclosure Program given last December 14, 2010 at the Hotel Rembrandt in Quezon City. The awards were conferred to Puregold Qi-Central, Puregold San Pablo, Puregold Taytay and Puregold Zabarte. 50 Million Donation
A 50 Million Peso donation by Puregold Price Club, Inc. and Luis Co Chi Kiat Foundation was given to The One La Salle Scholarship Endowment Fund on October 7, 2010. In a simple turn-over ceremony held at the De La Salle University along Taft Avenue, Manila.
Mr. Lucio Co, Director of the LCCK Foundation handed over the donation to One La Salle Steering Committee Co-Chairman Br. Augustine Boquer FSC and the Vice Chancellor for Lasallian Mission & External Relations for DLSU Br. Bernard Oca FSC. Puregold Donates Blood to Philippine National Red Cross
June 28, 2011, Puregold, in collaboration with the Philippine Red Cross (PRC) – National Blood Center, initiated a mass blood donation activity. A total of 52 units of blood were collected from enthusiastic Puregold employees from different departments. Each blood unit will benefit two to three blood recipients. PRC deeply expressed its gratitude for the generosity of Puregold employees, as this will contribute in their advocacy to save lives and alleviate human sufferings. Puregold in the same way felt privileged as the event led them to partially fulfill its mission to humanity. COMPETITORS:
The SM Hypermarket was started by the Sy family back in 2001 in response to the constant need of consumers for a holistic shopping experience. The concept behind the creation of a new retail format – which is what is now known as a “hypermarket retail format” – is to combine the features of a supermarket with those of a department store. The principal aim of this venture is to provide the consumer with a one-stop shop where most shopping needs will be satisfied all in one go. RUSTAN’S SUPERMARKET
Founded in 1970, Rustan’s Supermarket is a pioneer in modern grocery retailing having introduced many innovations that are still being imitated to this day. From introducing groundbreaking promotions, such as the buy-1-take-1 offer; to sourcing quality products from all over the world; to Grocering, the first ever grocery delivery in the country, Rustan’s Supermarket defined, to a large extent, the very concept of modern food retailing in the Philippines. To date, Rustan’s Supermarkets has 20 branches in Metro Manila and 2 in Cebu. It is a leader and pioneer in the grocery shopping industry, well known for its focus on quality, customer service, and fresh food. ROBINSONS SUPERMARKET
Robinsons Supermarket Corporation is one of the largest supermarket chains in the Philippines today. Its first branch, Robinsons Supermarket Cebu Fuente, opened in 1985, it has 64 branches across the Philippines. Robinsons Supermarket seeks to educate and empower its customer on their choice of foods and products to promote healthy living and proper nutrition. Its slogan, Eat Well Spend Less, captures this philosophy. Balance Sheet Ratios
Measure liquidity and solvency (a business's ability to pay its bills as they come due) and leverage (the extent to which the business is dependent on creditors' funding). Liquidity Ratios
Measure the firm’s ability to meet maturing short-term obligations. Leverage Ratios
Measure the extent to which a firm has been financed by debt. Activity Ratios
Measure how the firm effectively uses its resources. Income Statement Ratios
These ratios indicate how well the company performed in a given year.
These ratios show how efficient and effective the strategies of the company are. Profitability ratios
Measure the management’s overall effectiveness as shown by returns generated on the sales and investment. A class of financial metrics that are used to assess a business's ability to generate earnings as compared to its expenses and other relevant costs incurred during a specific period of time. The Company plans to continue to improve and renovate existing stores by upgrading them to address the changing needs and preferences of customers and enhance their overall shopping experience.
These efforts include, among others, remodelling store layouts by optimizing and/or expanding the sales floor sales floor areas of existing stores to further improve the visitor traffic, optimally positioning promotional items and continually maintaining and upgrading store décor. First and only hypermarket retailer with customized membership program for resellers. Puregold seeks SEC approval of deal to buy S&R
Puregold Price Club Inc. has finalized its P16.5 billion acquisition of 100 percent of the operator of S&R Membership Shopping through a share-swap with their common shareholder, the family of Chinese-Filipino Lucio Co. In a disclosure to the Philippine Stock Exchange, Puregold said it had signed the agreement with the sellers of S&R operator Kareila Management Corp. on May 13.