Robinsons Philippines flourishes
Robinsons Retail Holdings, the Filipino retail group, has reported a 25.9 per cent increase in first half net income.
Strong sales across its many chains, together with newly acquired operations, AM Builder’s Depot and Chavez Pharmacy, all contributed to the first half sales of P1.95 billion (US$42.108 million).
Total sales rose 11.8 per cent to P41.35 billion (US$893 million), with a net gain of 219 stores year on year. Same store sales grew 2.9 per cent.
Robinsons now has 1399 stores across a wide variety of retail categories, including Robinsons Supermarket, Robinsons Easymart, Robinsons Selection, Handyman Do it Best, AM.Builders’ Depot, True Value, Topshop, Topman, Shiseido, Benefit, Toys ‘R’ Us, Daiso Japan, Ministop, Costa Coffee and South Star.
By sector, Robinson’s derives 49 per cent of its sales from its grocery division and 15 per cent from department stores, 11 per cent fro DIY, 10 per cent from drugstores, nine per cent from specialiaty stores and six per cent from convenience stores.
“I am happy that same-store sales have held up despite competition continuing to be intense. I am seeing a lot of promise from the new formats that we recently launched such as Costa Coffee, Robinsons Selections, and True Home by True Value. With this, we are emboldened to open more stores from these formats,” said Robina Gokongwei-Pe, RRHI president and CEO in a statement.
“Sales from our consumer electronics and appliance online business through a marketplace have been promising, which confirms that there is a growing market for this business,” she said.