Robina Gokongwei Pe’s Robinsons Retail posts blowout Q2 as shoppers return to pre-pandemic habits

Robinsons Retail Holdings Inc. reported an impressive rise in net income in the second quarter, more than doubling to P1.6 billion as sales exceeded pre-pandemic levels.

READ: Robina Gokongwei taps ex-Pilipinas Shell boss Romero as Robinsons Retail director as Antonio Go exits after 9 years

The P1.6 billion profit recorded from April to June was 44.7 percent higher than the 2019 pre-pandemic level, driven by austerity measures implemented last year.

Second quarter net sales grew 19.8 percent to ₱42.9 billion, surpassing pre-pandemic level by 7.7% percent on the back of same store sales growth of 15.5 percent amid easing of movement restrictions.

Robust gains from the second quarter brought RRHI’s year-to-date net income to P2.7 billion or an increase of 64 percent year on year. Net sales jumped grew 15.3 percent to ₱82.4 billion, 3.6 percent of which came from e-commerce sales.

“Our cost-efficiency efforts have continued to yield positive results. Thus, we are in a position of renewed fervor and strength to further widen our already expansive offline and online reach and broaden our ecosystem of products & services in order to gain more valuable customer relationships,” said Robina Gokongwei Pe, president and CEO of RRHI.

Bringing ‘hilot’ to the world

Going on a wellness retreat has been a yearly tradition for Nepal’s lone billionaire, Binod Chaudhary. Fifteen years ago, the pursuit for health brought the adventure-seeking Binod to the Philippines. He booked a detox program at The Farm at San Benito, a world-class wellness resort in Lipa, Batangas.

MPIC CFO Joins WBA Allies’ Assembly 2022

Metro Pacific Investments Corporation (MPIC), the country’s leading infrastructure investments company, represented by its Chief Finance, Risk, and Sustainability Officer Chaye A. Cabal-Revilla, joined the World Benchmarking Alliance’s (WBA) Allies’ Assembly 2022 as a speaker and panelist in Cape Town, South Africa.

MPIC CFO Joins WBA Allies’ Assembly 2022

Metro Pacific Investments Corporation (MPIC), the country’s leading infrastructure investments company, represented by its Chief Finance, Risk, and Sustainability Officer Chaye A. Cabal-Revilla, joined the World Benchmarking Alliance’s (WBA) Allies’ Assembly 2022 as a speaker and panelist in Cape Town, South Africa.

US inflation eases in July amid falling oil prices

US inflation eased slightly in July, according to official data Wednesday, potentially taking pressure off the Federal Reserve to hike interest rates sharply while bringing a much-needed boost to President Joe Biden just months before crucial midterm elections.