Robinsons Retail nets P1.49B in Q2

Robinsons Retail Holdings Inc. (RRHI) reported a decline in net income for the second quarter of the year, weighed down by higher equitized losses from minority investments and rising interest expenses due to greater borrowings.

RRHI reported a P1.492-billion attributable net income in the April to June period, down 13.2% from the P1.719 billion in the same period last year. Net sales increased 5.9% to P50.660 billion, while gross profit climbed 6.6% to P12.334 billion.

This brought the first-half net attributable net income to P2.252 billion, down 66.9% from P6.800 billion in 2024, in the absence of the one-time gain from the merger of Robinsons Bank and the Bank of the Philippine Islands last year.

“The sustained recovery in basket sizes, along with our continued focus on improving assortment, has enabled us to accelerate growth and exceed our full-year SSSG (same store sales growth) target in the second quarter,” RRHI president and chief executive officer Stanley Co said in an emailed statement.

“We intend to build on this momentum by further expanding our store network and driving operational efficiencies in the coming months,” he added.

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

It ended the first half with 2,471 stores, including 763 food stores, 1,145 drugstores, 51 department stores, 228 DIY stores, and 284 specialty stores. It also has 2,116 franchised stores of The Generics Pharmacy.

Shares in RRHI closed Tuesday at P39.00 apiece, down P0.60 or 1.52% from Monday’s finish of P39.60 per share. —VBL, GMA Integrated News