Robinsons Retail Holdings Inc. (RRHI), the retail holding company of the Gokongwei Group, said Tuesday its net income attributable to equity holders of the parent company dropped 85 percent to P760 million, primarily due to a one-time gain recorded in early 2024 from the merger of Bank of the Philippine Islands (BPI) and Robinsons Bank.
Core earnings, which exclude one-time gain, rose 4.9 percent to P1.2 billion in the first quarter of 2025, driven by stronger operating income and reduced interest expenses, RRHI said Tuesday disclosure to the stock exchange.
Consolidated net sales rose 4.2 percent to P47.8 billion, supported by robust performances from the food, drugstore, and department store segments.
“This year is off to a strong start, with the ongoing recovery in basket sizes continuing to drive revenue growth. To sustain this momentum, we will further optimize our assortment, accelerate store expansion, and unlock greater operational efficiencies. As we navigate the dynamic retail environment, we remain focused on creating long-term value for our stakeholders by strengthening our fundamentals and advancing our sustainability agendas,” said RRHI president and chief executive Stanley Co.
Sales were boosted by new store openings and additional operating days due to the Holy Week shift from March in 2024 to April this year.
These gains helped offset fewer selling days in February, a result of 2024 being a leap year. Blended same-store sales growth stood at 3 percent, aligning with RRHI’s full-year guidance of +2-4 percent.
Gross profit grew 6.2 percent year-on-year to P11.6 billion, outpacing revenue growth due to improved category mix, supplier support and better inventory management.
Operating income increased 2.7 percent to P1.9 billion, with the company citing higher manpower expenses tied to last year’s wage hikes and one-time costs from employee benefits enhancements.
RRHI was operating 2,448 stores across, including 760 Food Stores, 1,131 drugstores, 50 department stores, 225 DIY Stores and 282 specialty stores as of March 31, 2025.
