Cosco Capital, Inc., the listed retail holding firm of businessman Lucio L. Co, announced a stellar financial performance for the first quarter of 2026. The Group’s consolidated net income surged by 21.6% to Php 4.47 billion, up from Php 3.68 billion recorded in the same period last year.
Strong operating performance across its major business segments lifted consolidated revenues by 11.3% to Php 63.1 billion in Q1 2026, compared to Php 56.7 billion in Q1 2025.
The Group’s exceptional performance underscores its ability to capitalize on economic recovery and resilient consumer spending, successfully navigating prevailing macroeconomic challenges with sustained revenue growth across its entire portfolio.
The grocery retail segment remains the primary engine of the holding firm, driving nearly three-quarters of the Group’s bottom line.
| Business Segment | Q1 2026 Net Income Contribution (%) |
| Grocery Retailing (Puregold & S&R) | 72% |
| Liquor Distribution (The Keepers Holdings) | 18% |
| Commercial Real Estate | 8% |
| Energy & Minerals and Specialty Retail | 2% |
The grocery retail segment—comprising Puregold Price Club, Inc. and S&R Membership Shopping Club—reported consolidated revenues of Php 58.78 billion, representing a 12.1% growth from Php 52.42 billion in Q1 2025.
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Same-Store Sales Growth (SSSG): Puregold Stores recorded a positive SSSG of +5.4%, driven by larger basket sizes. S&R Warehouse Clubs experienced a remarkable +12% SSSG, propelled by higher member foot traffic.
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Profitability: The segment’s consolidated net income jumped 23.7% year-on-year to Php 3.26 billion (up from Php 2.64 billion), fueled by robust topline growth and improved gross margins.
The Keepers Holdings, Inc. (liquor distribution) recorded a 6.1% revenue growth to Php 4.3 billion, supported by a 4% increase in case volume sold.
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This growth was heavily driven by Alfonso Brandy, the market-leading imported brandy, which has surpassed its pre-pandemic volume.
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Growth was further bolstered by premium market expansion and a strong rebound in on-premise dining and entertainment channels.
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The segment’s net income rose 17.6% to Php 811 million in Q1 2026, compared to Php 690 million in Q1 2025.
The Commercial Real Estate segment posted rental revenues of Php 612 million, a 22.1% growth year-on-year.
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Growth was driven by improved tenant business operations amid heightened economic activity, alongside the full resumption of contracted rental rates.
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Net income for the segment grew 28.1% to Php 350 million in Q1 2026, up from Php 273 million in Q1 2025.
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Specialty Retailing (Office Warehouse, Inc.): Revenues improved by 4.3% to Php 565 million (versus Php 541 million a year ago), yielding a 2.2% increase in net income to Php 30.5 million.
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Energy and Minerals: The segment reported revenues of Php 97 million (down 34% year-on-year) and a net income of Php 50 million (down 13% year-on-year).
