By The Manila Times
Gokongwei-led Robinsons Retail Holdings Inc. (RRHI) will likely stage a rebound this year on the back of aggressive store expansions across formats, Maybank Investment Banking Group said.
The supermarket and specialty retailer is expected to launch 83 stores in 2024 as well as book modest same-store sales growth (SSSG) and steady gross profit margins (GPM), the investment bank said in a report.
Maybank noted that RRHI’s preliminary guidance this year included net store additions of 100 to 120, an SSSG target of 3.0 to 5.0 percent and a 10- to 20-basis-point expansion in GPM.
Despite a “more conservative” outlook for the company due to possible delays in construction and tenant turnover, the bank said RRHI would likely grow by 12 percent and 18 percent this year and the next, respectively.
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