Robinsons Retail posts record earnings in 2022

Robinsons Retail reported record earnings in 2022, with net income of P5.7 billion, a 26.7% increase from 2021 and surpassing pre-pandemic levels by 41.2%. Core earnings grew 39.1% to P5.3 billion.

Consolidated net sales reached P178.8 billion, up 16.6% from the previous year, driven by same store sales growth of 11.8% and new store openings.

Robina Gokongwei Pe, Robinsons Retail president and CEO, attributed the surge in profitability to the economy's gradual return to normalcy, including face-to-face classes, increased travel and tourism, and a normal holiday season.

The company plans to focus on improving store efficiency and increasing market coverage with more stores scheduled for 2023.