Robinsons Retail Earns P1.7B

Robinsons Retail Holdings, Inc. reported an improved second-quarter performance as it grew consolidated net sales by 2.7% to ₱35.8 billion compared to ₱34.9 billion in Q2 2020.

Photo Insert: Robinsons Place

Most segments posted growth in sales given longer operating days despite resurgences in restrictions in April when COVID cases spiked. Higher sales translated to operating income growth of 2.9% to ₱1.2 billion and an uptick in net income attributable to the equity holders of the parent to ₱724 million.

While RRHI’s performance for the quarter showed positive gains, year-to-date results still bore the effects of the pandemic. Net sales for the first half of 2021 decreased by 4.7% to ₱71.4 billion while same-store sales growth (SSSG) was at -10.2%.

The decline was due to lower sales from Supermarket, which came from a high base in 2020. However, this was partially buoyed by robust sales improvement from the DIY and drugstore segments. E-commerce sales surged 4x in the first half of the year

GoRobinsons, the company’s e-commerce platform, now operates a total of eight (8) banners. The improvement in sales, coupled with higher vendor support and better category mix, translated to gross profit improvement of 17.8% to ₱8.2 billion in the second quarter and 4.2% to ₱16.3 billion for the first half of 2021.

Operating income for the second quarter improved 2.9% to ₱1.2 billion due also to sustained cost management. Operating income for the first half ended at ₱2.3 billion.

Net income attributable to equity holders of the parent company at ₱1.7 billion for the first half of 2021, was a 1.7% improvement from the same period in 2020. The company also continued to grow its digital investments.

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