MANILA, Philippines – Robinsons Retail Holdings Inc. posted a 26 percent profit growth in the first half of 2014 on the back of higher sales and interest income.
This brought its net income attributable to equity holders of the parent company for the first half of 2014 to P1.37 billion from P1.09 billion in the same period last year.
Robinsons Retail saw a 20 percent growth in its consolidated net sales for the second quarter of this year driven by sales contribution of new stores as well as the robust same store sales growth (SSSG) of 3.9 percent.
The healthy SSSG for the period was attributed to the continued strong sales of Robinsons Supermarket, Robinsons Department Store, DIY, drug stores, and the Specialty Stores segment.
Sales from these segments offset negative sales of Robinsons’ international fashion apparel brands.
The firm generated net sales of P36.98 billion or a growth of 18.1 percent from the sales contribution of the 240 new stores, healthy sales and the contribution from newly acquired businesses such as the six-store EZ Supermarket chain, the three-store Jaynith’s supermarket chain, the eight Shisheido, and two Benefit cosmetics stores.
As of end June 2014, Robinsons Retail operated a total of 1,180 stores, up from the previous year’s 940 stores.
The firm said it is on track to meet its target of ending the year with 1,400 stores.
Robinsons Retail president and chief operation officer Robina Gokongwei-Pe said that starting today, the company is entering a new format in food retail segment called Robinsons Easymart, which she described as “a network of compact neighborhood grocery stores.”
“[It’s] our way of addressing the convenience and accessibility needs of consumers with products at competitive prices,” she said.