Robinsons Retail Holdings Inc. said over the weekend net income jumped 24.8 percent in the first quarter to P1.2 billion from P945 million in the same period last year on the back of a double-digit growth in sales and improved margins.
RRHI said in a disclosure to the stock exchange net sales rose 10.7 percent to P39.4 billion, with positive contribution across all business segments.
It said that despite the imposition of different alert levels in the quarter, businesses remained strong, as same-store sales grew 4.9 percent.
Meanwhile, e-commerce sales doubled in the first quarter and contributed 4.1 percent of total sales.
“The strong first-quarter performance validates our optimism entering 2022. We saw upbeat performance across our formats in the first quarter of 2022 as consumers regained greater mobility to visit stores and grew even more accustomed to online shopping,” RRHI president and chief executive Robina Gokongwei Pe said.
