Robinsons Retail net up 26% in 2014

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LISTED Robinsons Retail Holdings Inc., the retail arm of the Gokongwei group, said strong same-store sales, the opening of new stores and various business acquisitions in 2014 boosted its net income by 26 percent last year to nearly P4 billion.

In a statement, the company said net income rose to P3.92 billion from P3.11 billion in 2013, while revenues surged 19.5 percent to P80.4 billion from P67.25 billion previously.

Net income attributable to equity holders of the parent company jumped 29.5 percent to P3.55 billion from P2.74 billion in 2013.

For the fourth quarter alone, it said net income advanced 21.5 percent to P1.3 billion from P1.07 billion in the same period a year earlier, while total sales climbed by 20.6 percent to P24.22 billion from P20.07 billion.


“It has been a good year for Robinsons Retail for exceeding our like-for-like sales as well as expansion in gross floor area targets. Our sales hit the P80-billion mark for the first time while same-store sales growth was strong despite intense competition,” said Robina Gokongwei-Pe, president and chief operating officer of Robinsons Retail.

Revenue growth in 2014 was observed across all its retail segments —same-store sales grew by 3.6 percent; sales at Robinson’s Supermarket were up 3.3 percent; Robinson’s Department Store saw sales rise 5.1 percent; do-it-yourself (DIY) outlets recorded a 7.2 percent increase in sales; specialty stores segment posted a 6.4 percent advance; and Robinsons Appliances notched a 4.3 percent increase in sales.

Meanwhile, its actual capital spending last year totaled P4.04 billion.

Robinsons Retail said it opened 263 new stores last year, which raised its store count to 1,327 as of end-December from 1,064 stores in 2013. This represents an 18.6-percent increase in gross floor area, which is in line with its “mid to high teens” growth target for the full year.

“In 2014, we embarked on an aggressive store expansion plan, coupled with the acquisition of some complementary business. We will continue to be aggressive in opening stores in key locations around the country, bringing modern retail to the broadening middle class, with the Philippine economy seen to sustain its strong growth performance in the coming years,” Gokongwei-Pe added.

The company made several major acquisitions throughout 2014, including the six stores of EZ Supermarket chain, three stores of Jaynith Supermarket, eight stores of cosmetics brand Shiseido, two Benefit cosmetics stores, 17 stores from Visayas-based A.M. Builders’ Depot and the franchise of London-based Costa Coffee in the Philippines.

Apart from the Robinsons malls and supermarkets, the company’s existing retail brands include Handyman Do it Best, A.M. Builders’ Depot, True Value, Topshop, Topman, Shiseido, Benefit, Toys “R” Us, Daiso Japan, Ministop and mini-mart Robinsons Easymart, among others.

Incorporated in 2002, Robinsons Retail is owned by the Gokongwei family and operates six retail businesses — supermarkets, department stores, DIY stores, convenience stores, drug stores, and specialty stores.

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