ROBINSONS Retail Holdings Inc. (RRHI) said it is allocating P5 billion in capital spending for this year, almost a fifth higher than its actual spending last year, to add about 200 new stores to its network of convenience stores and supermarkets.
Robina Gokongwei, Robinsons Retail’s president and chief operating officer, said the company’s capital expenditure this year is 19 percent higher than last year’s actual spending of P4.2 billion.
As of the end of last year, the Gokongwei retail arm had a total of 1,506 stores and supermarkets in its network.
The company expects to post marginal same-store sales growth of 3 to 5 percent this year.
At present, Robinsons Retail operates 10 retail formats under its department stores, supermarkets, home improvement stores, convenience stores, drug stores and specialty stores.
It closed 2015 with a total gross floor area of 974,000 square meters.
Gokongwei also said the company continues to look at possible mergers and acquisitions to drive growth further.
Last month, Robinsons Retail announced its acquisition of 51 percent of The Generics Pharmacy, the country’s largest and fastest growing generics drugstore chain with more than 1,800 stores.
TGP, combined with South Star Drug, expands Robinsons’ retail drugstore network to nearly 2,200 stores nationwide, making it the largest drugstore chain in terms of number of outlets in the country.