Robinsons Retail's profit surges in 2013
MANILA, Philippines - Gokongwei-led Robinsons Retail Holdings reported its unaudited attributable net income surged 123% to P2.68 billion in 2013 from P1.2 billion in 2012.
In a statement, Robinsons Retail said its unaudited consolidated net income rose 127% to a record high of P3.054 billion in 2013.
The higher net earnings were due to the increase in sales from new stores, full year consolidation of South Star Drug which was acquired in July 2012, 2.5% same store sales growth and expansion in gross margins.
As of end 2013, Robinsons Retail's store network stood at 1,064 from 912 as of end-2012.
Robinsons Retail said consolidated net sales jumped 17% to P67.254 billion in 2013. The bulk came from the supermarket segment, contributing 48% of the total; followed by department stores (17.7%); DIY stores (10.5%); drug stores (9.3%); specialty stores (7.9%) and convenience stores (6.3%).
Gross profit increased by 30% to P14.312 billion in 2013 from P10.979 billion in 2012, as the company was able to get better support and discounts from suppliers due to its bigger scale and offering more value-added services.
Last year, Robinsons Retail acquired Beauty Skinnovations Retail, Inc, which operates eight Shiseido stores and two Benefit stores; and Eurogrocer Corp., an operator of a chain of six supermarkets in Northern Luzon.
At rpesent, the company operates nine retail formats under six business segments - Robinsons Supermarket, Robinsons Department Store, Ministop, South Star Drug, Handyman Do it Best, True Value, Howards Storage World, Robinsons Appliances, Toys “R” Us, Daiso
Japan, and fashion apparel brands – Topshop, Topman, Dorothy Perkins, Warehouse, Ben Sherman, Miss Selfridge, River Island, Shana, G2000 and Basic House.