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Manila Bulletin devider Business devider The Stock Market devider Robinsons Retail income dips 67% in H1 due to one-time merger gain

Robinsons Retail income dips 67% in H1 due to one-time merger gain

Published Jul 29, 2025 04:04 pm
The Gokongwei Group’s Robinsons Retail Holdings, Inc. reported a 66.9 percent plunge in attributable net income to ₱2.3 billion in the first half of the year, mainly due to the one-time gain from the Bank of the Philippine Islands – Robinsons Bank merger booked in early 2024.
In a disclosure to the Philippine Stock Exchange, the firm stated that attributable net income declined 13.2 percent to ₱1.5 billion in the second quarter of 2025, primarily due to higher equitized losses from minority investments and an increase in interest expenses resulting from increased borrowings.
Core earnings for the second quarter climbed 3.9 percent year-on-year to ₱1.5 billion, driven by strong revenue growth and improved operating efficiencies. For the first semester of 2025, core earnings stood at ₱2.8 billion, up 4.3 percent from last year.
Consolidated net sales in the second quarter improved 5.9 percent to ₱50.7 billion, underpinned by a blended same-store sales growth (SSSG) of 4.8 percent, coming from a boost from election- and back-to-school-related spending.
The slower inflation last quarter also supported consumer spending, positively impacting both the Company’s essential and discretionary categories. Notable business drivers for the quarter were the Food, Drugstore, and Department Store formats.
In the first half of 2025, sales and blended SSSG reached ₱98.5 billion (up 5.1 percent from last year) and 3.9 percent, respectively.
“The sustained recovery in basket sizes, along with our continued focus on improving assortment, has enabled us to accelerate growth and exceed our full-year SSSG target in the second quarter,” said RRHI President and CEO Stanley Co.
He added that, “We intend to build on this momentum by further expanding our store network and driving operational efficiencies in the coming months.”
Operating income rose at a brisk pace of 7.4 percent to ₱2.4 billion in the second quarter, driven by prudent cost management and a gross profit uplift resulting from continued supplier support, product mix improvements, and enhanced inventory management.
Considering all this, operating income for the first six months of the year totaled ₱4.3 billion, 5.2% higher than the same period last year.
As of June 30, 2025, Robinsons Retail has 2,471 stores consisting of 763 Food Stores, 1,145 Drugstores, 51 Department Stores, 228 DIY Stores, and 284 Specialty Stores. The company also has 2,116 franchised stores of TGP.

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