THE unaudited consolidated net sales of Robinsons Retail Holdings Inc. increased by 22.8 percent to P162.9 billion for the full year 2019, driven by the same store sales growth (SSSG) of 3.4 percent, additional sales from the new stores opened in the last 12 months and the full year consolidation of Rustan Supercenters.
Net sales for the fourth quarter rose by 14.4 percent to P46.8 billion. Blended SSSG for the quarter was at 3.5 percent, with full year at 3.4 percent.
The strong performance for the quarter was primarily driven by drugstore at 7.4 percent, convenience store at five percent, department store at 4.7 percent and supermarket at four percent.
Gross profit margins increased by 30bps to 22.8 percent for the full year 2019 attributable to larger scale, improvement in category mix and the full-year consolidation of high margin business of Rustan. (PR)