Robinsons Retail Holdings Inc. said Tuesday net income jumped 21.9 percent in 2015 to P4.34 billion from P3.56 billion in 2014, on positive same-store sales growth and contribution from newly opened stores.
Robinsons Retail said in a disclosure to the stock exchange consolidated net sales hit P90.88 billion last year, up 13 percent from P80.40 billion in 2014.
The retail holding firm of the Gokongwei group said it opened 179 new stores in 2015 to end the year with a total of 1,506 stores. The opening of new stores expanded the company’s gross floor area by 9.7 percent year-on-year, it said.
The company said it registered same-store sales growth of 4.1 percent in 2015, higher than the 3-percent consolidated same-store sales growth target for the year.
Robinsons Retail said in the fourth quarter, consolidated net income attributable to equity holders of the parent company grew 12.7 percent to P1.37 billion from P1.22 billion last year.
Core net earnings, which exclude interest income on bond investments, equitized net earnings from its 40-percent stake in Robinsons Bank and foreign exchange gains or losses, increased 5.8 percent to P3.63 billion from P3.43 billion last year.
“I am heartened by the strong same-store sales growth performance of all our retail formats in 2015, despite the intensifying competition,” Robinsons Retail president and chief operating officer Robina Gokongwei-Pe said.
“We have also gotten into a good start this 2016 with solid same-store sales growth for the first two months of the year as we benefited from increased consumer spending from a still robust domestic economy. We will continue with our footprint expansion, with focus on areas outside Metro Manila. Looking for potential mergers and acquisition continues to be part of our strategy in growing the business,” Gokongwei-Pe said.
Blended gross profit increased 13.3 percent to P19.75 billion in 2015 from P17.43 billion in 2014. Operating income improved 5.4 percent to P4.73 billion while earnings before interest, tax, depreciation and amortization grew 10.6 percent to P6.38 billion.
Robinsons Retail currently operates 10 retail formats under six business segments, including department stores, supermarkets, home improvement stores, convenience stores, drug stores and specialty stores.