NextGen Day

Robinsons Retail Holdings, Inc. (RRHI), which reported on Thursday a 26.7-percent year-over-year increase in net income to PHP5.7 billion, profited from the economy’s ongoing recovery.

After noting that the increase in net income last year exceeded the business’s performance in 2019 by 41.2 percent, RRHI referred to 2022 as “a great year” for the company in a statement.

It claimed that in 2022, earnings per share (EPS) increased more quickly, by 30.6 percent, “supported by our continued stock buyback program.”

A new record was also set for core income, which increased by 39.1 percent to PHP5.3 billion.

Consolidated net sales increased by 16.6% annually to PHP178.8 billion, mostly as a result of new store openings and an increase in same-store sales growth (SSSG) of 11.8%.

The firm said that “in 2022, our businesses immediately profited from the economy’s gradual return to normalcy,” including the restoration of in-person instruction in schools, more travel and tourism, and the first typical holiday season in two years.

The RRHI reported that gross profit last year exceeded sales thanks to “changes in category mix and economies of scale,” reaching PHP42.2 billion, an increase of 19.8%.

Robina Gokongwei Pe, president, and CEO of RRHI, expressed the company’s satisfaction with its operational performance in 2022.

“Building on the momentum from last year, our business will keep benefiting from the economy’s restoration to normalcy. With more locations planned for 2023, we’ll concentrate on enhancing store efficiency and expanding our market reach.

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