Robinsons Retail Holdings posts P945M net income in Q1 as e-commerce sales grow

ABS-CBN News

Posted at Apr 30 2021 10:14 AM

MANILA – Robinsons Retail Holdings Inc said it posted a net income attributable to equity holders of P945 million for the first quarter of 2021, up 2.4 percent from the same period in 2020 due to efforts made to mitigate impact of COVID-19.

Consolidated net sales is at P35.6 billion for the period while same store sales growth dropped as supermarket and drugstore segments came from high bases due to panic buying from essential goods last year, RRHI said in a disclosure to the stock exchange. 

Total e-commerce sales grew “significantly” by 7 times driven mostly by GoRobinsons, the online site of its supermarket arm. 

Several brands, including Robinsos Supermarket, The Marketplace, Shopwise, Handyman, True Value, Toys ‘R’ Us and No Brand, are on the platform with more onboarding this year, RRHI said. 

It’s drugstore and appliances units have their own dedicated websites, it said. 

“We remain agile as we accelerate the growth of our e-commerce programs while ensuring that necessary cost controls are in place. We are rising to the challenges brought about by the pandemic," Robinsons Retail Holdings president and CEO Robina Gokongwei-Pe said.

"Amid the present volatility of the business environment, we are strengthening our strategies to constantly adapt to our customers’ needs and create shared value for our stakeholders,” she added.

Robinsons, as well as other businesses in 2020 accelerated the shift to e-commerce when the COVID-19 pandemic and resulting lockdowns forced millions to stay at home. 

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