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Robinsons, one of the leading grocery retailers in Philippines, reported a 9.8% increase in net income in the third quarter of this year.
The growth is attributed to opening of new stores as well as robust like-for-like sales growth, which is up by 6.6% vs. the same period last year.
Good performance can be observed across all Robinsons’ formats, in terms of like-for-like growth:
Supermarkets account for 46.5% of the group’s total turnover and also have the fastest growth rate of all formats. Earlier this year, the acquisition by Robinsons of a 100% stake in Dairy Farm’s Rustan Supercenters has been approved by the Philippine Competition Commission, and the deal is currently being completed.
Up to date, Robinsons has 158 supermarkets, 368 speciality stores, 496 convenience stores, 499 drugstores and 51 department stores. Robinsons’ overall floor area increased by 9% year-on-year.
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