RTO, Back to School Effect: Robinsons Retail Posts Solid Third Quarter Income

(SPOT.ph) Robinsons Retail Holdings Inc (RRHI) said today it delivered "solid" third quarter numbers, with net income up 60.8% to P1.7 billion that was buoyed by growth across most segments.

Gokongwei-led RRHI operates Robinsons Department Store and Supermarket, Shopwise, recently rebranded Uncle John's convenience stores, Southstar Drug, The Generics Pharmacy and Rose Pharmacy, amont others.

Earnings per share (EPS) rose at a faster rate of 66.0% to P1.13 as a result of the company’s ongoing share buyback program. Net sales in the quarter ended September accelerated by 19.3% to P44.7 billion, ending the period above pre-pandemic levels. Topline growth was driven by robust Same Store Sales Growth of 15.1%, a turnaround from -1.3%.

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Robinsons and the new normal

Transaction volume rose as students returned to school and workers returned to offices, RRHI said.

Gross margins in the third quarter expanded to 24.0% driven by better product mix. Earnings before interest and tax or EBIT rose to ₱2.3 billion. Operating expenses as a percent of sales were stead.