Robinsons Retail profits up 30 pct in 2014

ABS-CBN News

Posted at Mar 23 2015 05:29 PM | Updated as of Mar 24 2015 01:29 AM

MANILA – Robinsons Retail Holdings Inc. posted a 30 percent increase in profits last year driven by higher income from operations and interest income.

The firm said its net income attributable to equity holders of the parent company grew to P3.56 billion in 2014 from P2.75 billion in 2013.

Its consolidated net sales breached the P80 billion mark last year, jumping 20 percent to P80.40 billion in 2014 from the P67.25 billion in 2013 on the back of the sales contribution of 263 new stores last year and 152 stores opened in 2013.

Its same store sales growth (SSSG) was at 3.6 percent, higher than the 2 to 3 percent consolidated SSSG target for the year.

“It has been a good year for Robinsons Retail for exceeding our like-for-like sales as well as expansion in gross floor area targets. Our sales has hit the P80 billion for the first time while same store sales growth was strong despite intense competition,” said Robina Gokongwei-Pe, president and chief operating officer of Robinsons Retail.

As of end-2014, Robinsons Retail operated 1,326 stores and expanded its total gross floor area by 18.6 percent.

“In 2014, we embarked on an aggressive store expansion plan, coupled with the acquisition of some complementary businesses. We will continue to be aggressive in opening stores in key locations around the country, bringing modern retail to the broadening middle class with the Philippine economy seen to sustain its strong growth performance in the coming years,” Gokongwei-Pe said.

Robinsons Retail is the second-largest multi-format retailer in the Philippines. It operates supermarkets (Robinsons Supermarket), department stores (Robinsons Department Store), DIY stores (Handyman Do it Best, True Value and Howards Storage World), convenience stores (Ministop), drug stores (South Star Drug and Manson Drug) and specialty stores (Robinsons Appliances, Toys "R" Us, Daiso Japan, Topshop, Topman, Dorothy Perkins, Shiseido and Benefit).