RRHI’s net profit lower at P2.88 B

Published November 8, 2019, 12:00 AM

by manilabulletin_admin

By James A. Loyola

Robinsons Retail Holdings, Inc. (RRHI) reported a 25 percent drop in attributable net income to P2.88 billion in the first nine months of the year from P3.83 billion in the same period of 2018.

In a disclosure, RRHI said it registered net sales growth of 26.5 percent to P116.2 billion in the first nine months of the 2019.

The increase was attributable to same store sales growth (SSSG) of 3.2 percent, additional sales coming from new stores opened in the last 12 months and the consolidation of Rustan Supercenters.

The share of the supermarket segment expanded to 55 percent of the entire business, from 47 percent in the same period last year pre-Rustan.

Excluding the franchised stores of The Generics Pharmacy, Robinsons Retail ended September 2019 with a total of 1,918 stores comprising of 258 supermarkets, 50 department stores, 215 do-it-yourself stores, 509 convenience stores, 517 drugstores and 369 specialty stores.

The group’s gross floor area expanded by 20.3 percent year-on-year to 1.44 million square meters. Robinsons Retail spent a total of P2.2 billion in capital expenditures.(JAL)