MANILA - Robinsons Retail Holdings Inc. saw a 25 percent drop in net income last year to P2.9 billion versus P3.9 billion in 2019, as fewer people are going out to buy in stores amid COVID-19 lockdown restrictions.
Consolidated net sales also went down 7.3 percent to P151 billion from P162.9 billion on the year before the pandemic.
"The company is on a fast track in increasing its e-commerce presence, capitalizing on the shift in buyer preferences towards online marketplaces, which was made more pronounced by the pandemic," RRHI said on Friday.
RRHI said despite lower sales across all physical stores, e-commerce sales increased "nearly 3x compared to the previous year."
The company operates its own e-commerce platforms for Go Robinsons, South Star Drug, and Robinsons Appliances.
RRHI also sells via third party apps like Lazada and Shopee to increase sales via e-commerce.
“2020 was a year of difficulties for many businesses. COVID-19 might be considered a first in our lifetime, yet we remained resilient and focused on providing the best products and services to our customers...We remain steadfast in our commitment in 2021, confident that we can drive sustainable growth for all of our stakeholders,” said Robina Gokongwei-Pe, RRHI president and CEO.
The company acquired Rose Pharmacy, a pharmacy chain in Visayas, in October last year.
RRHI stores totaled 2,157 as of end-December, including 178 supermarkets, 16 hypermarkets, 70 minimarts, 49 department stores, 225 do-it-yourself stores, 472 convenience stores, 829 drugstores and 318 specialty stores.
It also has 2,025 franchised stores of The Generics Pharmacy.
Some of RRHI's store brands include Robinsons Supermarket, The Marketplace, Shopwise, Ministop, Toys ‘R’ Us, No Brand, and Handyman Do-It-Best.
The company said it is set to add other store formats on its site this year.