Robinsons Retail records improved Q2 performance

·1 min read

ROBINSONS Retail Holdings Inc. (RRHI) has reported an improved second quarter performance as it grew consolidated net sales by 2.7 percent to P35.8 billion compared to P34.9 billion in the second quarter of 2020.

Most segments posted growth in sales given the longer operating days despite resurgences in restrictions in April when Covid cases spiked. Higher sales translated to operating income growth of 2.9 percent to P1.2 billion and an uptick in net income attributable to the equity holders of the parent to P724 million.

While RRHI’s performance for the quarter showed positive gains, year-to-date results still bore effects of the pandemic.

Net sales for the first half of 2021 decreased by 4.7 percent to P71.4 billion while same store sales growth was at -10.2 percent.

The decline was due to lower sales from supermarkets, which came from a high base in 2020. However, this was partially buoyed by robust sales improvement from the DIY and drugstore segments.

E-commerce sales surged four times in the first half of the year. GoRobinsons, the company’s ecommerce platform, now operates a total of eight banners. (PR)

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