Robinsons Retail in Philippines plans 150 new stores
Robinsons Retail Holdings will launch up to 150 new stores in the Philippines this year.
The firm published a presentation online revealing plans to invest PHP3–5 billion (US$57.8–96.3 million) on the store openings, following expenditure of PHP4.41 billion ($85 million) on openings last year. As at December, it had 1910 stores, including supermarkets, department stores, do-it-yourself stores, specialty stores, drugstores and convenience stores. The entire network covers a gross floor area of 1.48 million sqm.
Robinson’s achieved a 5.9 per cent same-store sales growth last year, with help from a 1.5 per cent uptick in transaction count and 6.1 per cent increase in basket size in its supermarket business. The group is targeting a 2-4 per cent same-store sales growth this year.
The firm’s net income reached PHP5.11 billion ($98.5 million) last year, an increase of 2.6 per cent on the year previous, with a 15.1 per cent increase in net sales.