Robinsons Retail net income soars 60.8% in Q3

Its net income amounted to P1.67b.

Robinsons Retail reported its net income attributable to shareholders stood at P1.67b in the third quarter of 2022, representing a 60.8% year-on-year growth. 

Over the same period, its core net earnings amounted to P1.44b, up 91.4% compared to the previous year. 

“Robinsons Retail’s stellar performance in the third quarter validates our view that the retail climate in the Philippines remains healthy notwithstanding rising inflation,” Robina Gokongwei Pe, President & CEO of Robinsons Retail Holdings, Inc., said. 

“Sustained reopening trends have translated to higher volumes and operating leverage. We continue to invest in our multi-format categories – be it in the offline or online channels – as we remain steadfast in our commitment to provide quality products and services.”

Read more: Robinson Retail net income doubles in Q2

Moreover, Robinson Retail also registered a 19.3% increase in net sales to P44.7b during the same quarter. 

It noted that the topline growth was driven by its same-store sales growth of 15.1%, reversing its negative growth of 1.3% in 2021. 

The improved mobility of consumers also led to a higher transaction count, further boosting its same-store sales.