Robinsons Retail net income up 62.7% to P4.41B in first nine months

Robinsons Retail Holdings Inc. reported a 62.7% increase in net income attributable to equity holders for the first nine months of the year, reaching P4.41 billion.

The company's strong performance was driven by a solid third quarter, which saw a net income attributable to equity holders of P1.67 billion, a 60.8% increase year-on-year.

Net sales in the third quarter also experienced significant growth, accelerating by 19.3% to P44.7 billion, with same store sales growth reaching 15.1%.

Core net earnings demonstrated impressive growth, surging 91.4% in Q3 and 72.6% for the first nine months.

Robinsons Retail President and CEO Robina Gokongwei Pe attributed the stellar performance to a healthy retail climate in the Philippines despite rising inflation and sustained reopening trends.

The full opening of the economy, resumption of face-to-face classes, eased travel restrictions, and return-to-work mandates have significantly boosted activities, translating to higher volumes and operating leverage.