Robinsons Retail net income down in Q1

Robinsons Retail Holdings Inc. (RRHI) opened 2025 with an 85% decline in its net income, on the back of the P760-million one-time gain it booked in the first quarter of 2024 from the merger of the Bank of the Philippine Islands (BPI) and Robinsons Bank.

Robinsons Retail said its attributable net income fell by 85% to P760 million from P5.081 billion in 2024, while its net income declined by 82.8% to P898 million from P5.216 billion, as the previous year saw the effectivity of the merger of BPI and Robinsons Bank.

Net sales for the quarter grew 4.2% to P47.817 billion, while gross profit increased by 6.2% to P11.589 billion.

The company ended the first quarter with 2,448 stores, including 760 food stores, 1,131 drugstores, 50 department stores, 225 DIY stores, and 282 specialty stores along with 2,116 franchised stores of The Generics Pharmacy.

“This year is off to a strong start, with the ongoing recovery in basket sizes continuing to drive revenue growth. To sustain this momentum, we will further optimize our assortment, accelerate store expansion, and unlock greater operational efficiencies,” Robinsons Retail president and chief executive officer Stanley Co said in an emailed statement.

“As we navigate the dynamic retail environment, we remain focused on creating long-term value for our stakeholders by strengthening our fundamentals and advancing our sustainability agendas,” he added.

Robinsons Retail’s portfolio includes the brands Handyman Do it Best, True Value, Toys ‘R’ Us, Uncle John’s, Daiso Japan, Pet Lovers Centre, No Brand, Savers Appliances, South Star Drug, The Generics Pharmacy, and Super50.

Shares in Robinsons Retail closed Tuesday at P39.20 per share, down by 10 centavos or 0.25% from Monday’s finish of P39.30. — BAP, GMA Integrated News