Gokongwei-led Robinsons Retail Holdings, Inc. reported a 25.2% decrease in net income attributable to equity holders to P2.93 billion as net sales dropped “due to the economic effects of the pandemic.”
In a disclosure on Friday, the listed holding company said net sales were down 7.3% to P151.03 billion. It said sales included the two months’ results of drugstore chain Rose Pharmacy, which was acquired in October.
Robina Gokongwei-Pe, Robinsons Retail president and chief executive officer, described 2020 as “a year of difficulties for many businesses.”
“[The coronavirus disease 2019] might be considered a first in our lifetime, yet we remained resilient and focused on providing the best products and services to our customers,” she said in a statement.
The company noted that its sales on virtual sites are increasing by at least three times its sales the previous year, as consumers shifted to online shopping due to the lockdown measures.
Robinsons Retail has multiple virtual marketplaces, namely: gorobinsons.ph, southstardrug.com.ph, and robinsonsappliances.com.ph. The company is also selling on third-party platforms to help boost its sales.
Its Gorobinsons website has recently added No Brand and Handyman Do-It-Best to its store offerings, which already include Robinsons Supermarket, The Marketplace, Shopwise, and Toys ‘R’ Us.
Robinsons Retail plans to add more brands to its online platforms later this year.
Meanwhile, blended same store sales were at a negative 8.9% in 2020 as a result of the health crisis, hitting the performance of non-essential items.
“SSSG (same store sales growth) of the supermarket segment was strong at 7.7%. SSSG of the drugstores segment ended flat, as sales of prescription drugs slowed down in the second half of the year with less people visiting hospitals,” the company said.
“SSSG of the department store, do-it-yourself (DIY) and convenience store segments were down in 2020 but showed improvement in the fourth quarter as quarantine restrictions eased,” it added.
The company looks at the year ahead with a positive note.
“We remain steadfast in our commitment in 2021, confident that we can drive sustainable growth for all of our stakeholders,” Ms. Gokongwei-Pe said.
Robinsons Retail shares at the stock market went up by up 4.72% on Friday to finish at P56.55 apiece. — Keren Concepcion G. Valmonte
