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Published April 30, 2021, 5:00 AM
Robinsons Retail Holdings, Inc. (RRHI) reported a 2.4 percent improvement in attributable net income attributable to P945 million for the first quarter of 2021.
In a disclosure to the Philippine Stock Exchange, the firm said this is due to the company’s efforts to minimize the impact of the pandemic through the implementation of austerity measures and front margin improvement initiatives.
Consolidated net sales declined 11.1 percent to P35.6 billion for the period of January to March 2021 from the P40.06 billion registered in the same quarter last year.
Same store sales growth (SSSG) was down to 16.1 percent, with the supermarket and drugstore segments coming off from high bases induced by panic buying for essential goods such as food and medicines in the same period last year.
BusinessWorld
April 30, 2021 | 12:07 am
JGSUMMIT.COM.PH
ROBINSONS Retail Holdings, Inc. said its net income attributable inched up by 2.4% to P945 million during the January-to-March period from the P923 million generated in the same quarter in 2020.
“Amid the present volatility of the business environment, we are strengthening our strategies to constantly adapt to our customers’ needs and create shared value for our stakeholders,” said Robina Gokongwei-Pe, president and chief operating officer of Robinsons Retail, in a statement on Thursday.
Meanwhile, sales declined by 11.1% to P35.6 billion from the P40.06 billion seen a year ago.
Same store sales growth (SSSG) also slowed by 16.1% from when “panic buying for essential goods such as food and medicines” were reported in the period last year for the company’s supermarket and drugstore segments, leading to record high SSSGs.
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