Robinsons Retail Holdings Inc., the retail holding company of the Gokongwei family, reported a net income of P4.98 billion in 2017, up 3.1 percent from P4.12 billion in 2016.
Core net income, excluding interest from bonds, equitized net earnings from the 40-percent stake in Robinsons Bank and unrealized forex gains/losses, increased 13.7 percent to P4.7 billion in 2017 from P4.1 billion a year earlier.
Operating income also climbed 14.8 percent to P6.3 billion from P5.5 billion, driven by stronger sales, resilient same-store sales growth despite coming from a high base in 2016 on election spending and improvement in gross margins.
Consolidated net sales expanded 9.4 percent in 2017 to P115.2 billion from P105.3 billion in 2016, as same-store sales grew 2.7 percent.
Sales contribution from the 140 new stores that opened in 2017 and the full-year consolidation of The Generics Pharmacy, De Oro Pacific Home Plus and Chic Centre also contributed to higher sales, it said.
The supermarket segment recorded SSSG of 2.5 percent as of end-2017; do-it-yourself, 6.4 percent; convenience stores, 2.9 percent; drugstores, 1.6 percent; and specialty stores, 7.8 percent.
The supermarket segment remained the group’s largest segment, accounting for 45.4 percent of consolidated net sales.
RRHI had a network of 1,718 stores comprising of 154 supermarkets, 49 department stores, 193 do-it-yourself stores, 496 convenience stores, 484 drugstores and 342 specialty stores as of end-2017.
The figures were on top of the 2,015 franchised stores of the Generics Pharmacy. The group’s gross floor area, excluding TGP, expanded 10 percent year-on-year to 1.15 million square meters in 2017.
The company allotted P3.1 billion for 2017 capital expenditures.
RRHI, which also operates Toys ‘R’ Us in the Philippines, targets to open more stores within the year.
“Toys ‘R’ Us is one of the most iconic toy stores in the Philippines and we believe we’ll stay in the industry for many years to come. The public is still fond of toys, both young and old. We are optimistic with future growth and we continue to improve our merchandise mix to keep up with the market. To make it more convenient for shoppers, we’ve also begun to bring in cashless payment platforms into our stores,” RRHI president Robina Gokongwei-Pe said.