By ABS-CBN News
Robinsons Retail Holdings said core net earnings rose by 4 percent year-on-year to P3.8 billion in the first 9 months of 2023.
In a disclosure to the Philippine Stock Exchange, the company said their supermarkets and drugstores were the main revenue growth drivers in the first 9 months of the year, accounting for almost 75 percent of Robinsons Retail’s revenues for the period.
The retailer also said their department stores delivered double-digit topline growth in the same period due as students and parents bought school supplies for the resumption of face-to-face classes.
“The company was able to generate growth in net sales and core net earnings despite the impact of inflation on consumption and a challenging base last year which benefitted from economic reopening and election-related spending,” Robinsons Retail said.
The company also said operating income grew by 3.7 percent year-on-year to P6.1 billion.
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