Robinsons Retail Holdings, Inc. (RRHI) doubled its profit in the fourth quarter as the company saw increased consumer spending during the holidays. READ:
In a disclosure to the exchange on Tuesday, RRHI said it saw a 114% growth in net income attributable to parent to P1.77 billion from P825 million in the same quarter in 2020.
RRHI’s net sales posted a 7% growth to P44.4 billion from P41.49 billion year on year. The company said its sales were “propelled” by the increased spending amid the holiday season on top of the easing of pandemic restrictions in Metro Manila. RRHI recorded a same-stores sales growth of 2.3%, boosted by the “strong performance” of its drugstore, department store, convenience store, and specialty store segments.
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