Robinsons Retail Holdings Inc. of the Gokongwei Group plans to spend P4 billion to P6 billion in capital expenditures this year to fund store expansion.
RRHI said in a recent investors’ presentation it would add 140 to 150 stores in 2022. It is also looking at same-store-sales growth of 5 percent to 10 percent this year, rebounding from the 4.9-percent decline in 2021.
The company said as it continues to improve its online platform, it is targeting e-commerce sales to account for 5 percent to 7 percent of total revenues this year, up from 3.9 percent in 2021.
RRHI reported a net income of P4.5 billion in 2021, up 39.2 percent from 2021, as net sales rose 1.5 percent to P153.3 billion. It said fourth-quarter profit doubled to P1.8 billion from P825 million a year earlier.
Net sales climbed 7 percent to P44.4 billion in the last quarter of 2021, as increased mobility resulted in higher spending during the holiday season.
SSSG was at 2.3 percent in the fourth quarter on the strong performance of the drugstore, department store, convenience store and specialty store segments.
“The positive performance in the last quarter of 2021 shows how we came together as a company with unwavering dedication, amid the continued challenges of Covid-19 throughout the year,” said RRHI president and chief executive Robina Gokongwei Pe.
“We entered 2022 driven by our constant goal to remain focused on our customers’ needs. We look forward to reinvigorated business activity as alert levels fall due to better responses to the pandemic, while the nation forges ahead with a clearer path towards a more open economy,” she said.
RRHI had 2,208 stores as of end-2021.
The company earlier reported that it acquired the remaining 40-percent stake of Japan-based Ministop Co. Ltd.’s stake in Robinsons Convenience Stores Inc.
RRHI also acquired Ultramart, a 10-chain minimart pharmacy chain with operations in Cebu.