ROBINSONS Retail Holdings, Inc. said in a disclosure on Wednesday that it saw an “improved second quarter performance” as the company finished the period with a P724-million attributable net income.
The figure is 0.7% higher than last year’s P719 million as most segments posted sales growth due to longer operating days. Consolidated net sales for the quarter went up by 2.7% to P35.83 billion from P34.9 billion.
“The advances in our second quarter results and our capability to remain agile keep us confident despite continuing uncertainties in the operating environment,” said Robina Y. Gokongwei-Pe, president and chief executive of Robinsons Retail.
Robinsons Retail generated P751 million in net income, up by 0.7% from P746 million.
The improvement in sales in the second quarter led to a 17.8% growth in gross profit to P8.16 billion from P6.92 billion year on year. Meanwhile, the company’s operating income rose by 2.9% to P1.17 billion from P1.14 billion due to “sustained cost management.”
In the January-to-June period, the company’s net income attributable grew by 1.7% to P1.67 billion from P1.64 billion. Its net income inched up by 0.5% to P1.77 billion from P1.76 billion.
However, some of the company’s year-to-date numbers “still bore effects of the pandemic.” Robinsons Retail’s net sales for the first semester declined by 4.7% to P71.45 billion from P74.96 billion year on year as same stores sales growth (SSSG) dropped by 10.2%.
“The decline was due to lower sales from Supermarket, which came from a high base in 2020,” Robinsons Retail said. “This was partially buoyed by robust sales improvement from the DIY and drugstore segments.”
The company ended the six-month period with a gross profit of P16.32 billion, up by 4.2% from P15.66 billion year on year. Its operating income dropped by 17% to P2.33 billion from P2.81 billion.
“We will stay focused on delivering to customer needs while we continue to leverage on opportunities in e-commerce,” Ms. Gokongwei-Pe said.
Robinsons Retail said its e-commerce sales grew four times in the first six months. Its online platform, GoRobinsons, is now running eight banners.
It also recently invested in Edamama, an online shopping platform for mothers that caters to baby products and services.
The company also participated in the latest funding round for mobile application GrowSari, which connects sari-sari store owners or neighborhood shops with inventory infrastructure and other tools to manage their businesses.
“The goods sold to these sari-sari stores are sourced from Robinsons Supermarket,” Robinsons Retail said.
“These investments allow for potential synergies that would enhance customer experience and improve performance of the Company in terms of growth and improved efficiencies,” it added.
Shares of Robinsons Retail at the stock market declined by 0.94% 50 centavos on Wednesday, closing at P52.50 each. — Keren Concepcion G. Valmonte
