Robinsons Retail Holdings Inc. (RRHI), the listed retailer of the Gokongweis, saw a 25.9 percent increase in its first half net income to P1.95 billion from P1.55 billion a year ago on the back of strong sales during the six-month period.
First semester net sales also improved by 11.8 percent to P41.35 billion from P36.97 billion the previous year due to the increase in contributions from the 219 new stores, healthy same-store sales which grew by 2.9 percent, and the added share of newly acquired businesses A.M. Builders’ Depot and Chavez Pharmacy.
The 219 new stores were opened between July 2014 and June this year, increasing Robinsons’ portfolio of stores to a total of 1,399, and accounting for a 12.9 percent growth in gross floor area to 901,000 square meters.
During the second quarter alone, the company increased profits and net sales by 24.4 percent to P1.13 billion and 10.7 percent to P21.63 billion, respectively.
To date, RRHI’s sales contributions shares are 49.1 percent from supermarkets, 15.1 percent from department stores, 11.2 percent do-it-yourself (DIY) stores, 9.5 percent drugstores, 8.7 percent specialty stores and 6.4 percent from convenience stores.
“I am happy that same-store sales have held up despite competition continuing to be intense. I am seeing a lot of promise from the new formats that we recently launched such as Costa Coffee, Robinsons Selections, and True Home by True Value. With this, we are emboldened to open more stores from these formats,” said Robina Gokongwei-Pe, RRHI president and chief operating officer.
“Sales from our consumer electronics and appliance online business through a market place have been promising, which confirms that there is a growing market for this business. The industry’s dynamism will always keep us on our toes,” she added.
For this year, the company aims to grow its margins by 20 percent to 40 percent while same-store sales are seen to grow the same pace at 2 percent to 3 percent for 2015.
RRHI has budgeted P6 billion for this year’s expansion to add up to 350 stores this year to grow its total store network by 1,600 by the end of 2015.
The company’s existing retail brands include Robinsons Supermarket, Robinsons Easymart, Robinsons Selection, Handyman Do it Best, A.M. Builders’ Depot, True Value, Topshop, Topman, Shiseido, Benefit, Toys “R” Us, Daiso Japan, Ministop, Costa Coffee and South Star drug store chain, among others.
Incorporated in 2002, Robinsons Retail is owned by the Gokongwei family to operate its six retail businesses — supermarkets; department stores; DIY stores; convenience stores; drug stores; and specialty stores.