Acquisitions boost Robinsons Retail sales

Newly acquired stores Savers Appliances and The Generics Pharmacy have given Robinsons Retail sales and profits a boost.

Sales increased by 18.5 per cent from Php21.6 billion to Php25.6 billion in the second quarter of 2016, on the back of sustained high single-digit same-store sales growth (SSSG) and sales from stores acquired this year.

For the first half of 2016, profit increased by 8.6 per cent to Php2.0 billion from Php1.9 billion last year.

Net sales for the first half of 2016 reached Php48.3 billion, an increase of 16.9 per cent from Php41.6 billion last year. The robust blended SSSG of 9 per cent in the first quarter of 2016 was sustained in the second quarter brought about by the general bullish consumers sentiment on the back of successful and peaceful national elections, lower commodity prices and stable exchange and interest rates environment.

The like-for-like sales in the second quarter were strong across all segments led by supermarkets at 8.9 per cent, department stores at 7.6 per cent, DIY at 8.3 per cent, specialty stores at 16.8 per cent, drugstores at 5.5 per cent and convenience stores at 2.9 per cent.

From July 2015, Robinsons Retail added 128 stores to end at 1527 stores at the end of June 2016. GFA increased by 10.7 per cent year-on-year to approximately 998,000 sqm. Including The Generics Pharmacy’s franchised store portfolio of 1878 at end of June 2016, the store network hit 3405.