Robinsons Retail net income surges 62.7% to P4.4B in 9 months

Robinsons Retail Holdings, Inc. experienced a significant 62.7 percent increase in net income, reaching P4.4 billion for the first nine months of 2022 compared to P2.7 billion in the same period of the previous year.

The company's core net earnings also saw a substantial rise of 72.6 percent, amounting to P3.6 billion.

Net sales for the nine-month period grew by 16.7 percent to P127.1 billion, supported by an 11.8 percent growth in same-store sales.

In the third quarter of 2022 alone, Robinsons Retail's net income attributable to parent grew by 60.8 percent to P1.7 billion.

This earnings surge was driven by strong topline growth across various segments, improved gross margins, enhanced operating leverage, and favorable foreign exchange gains.

Third-quarter net sales accelerated by 19.3 percent to P44.7 billion, surpassing pre-pandemic levels.