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Tag: Gokongwei

  • Robinsons Philippines income jumps 21.9 per cent

    Robinsons Philippines income jumps 21.9 per cent

    Robinsons Philippines has reported a 21.9 per cent increase in net income in 2015 to P4.3 billion ($90 million) on the back of same-store sales growth and sales from newly opened stores.

    Same-store sales growth for Robinsons Retail Holdings grew 4.1 per cent in 2015, exceeding the 2-3 per cent consolidated same-stores sales target for the year.

    The company’s consolidated net sales reached P90.9 billion last year, up 13 per cent from P80.4 billion in 2014.

    The retail holding firm of the Gokongwei group reported opening 2015 with 179 new stores and ended the year with a total of 1506 stores.

    “I am heartened by the strong same-store sales growth performance of all our retail formats in 2015, despite the intensifying competition,” Robinsons Retail President and CEO Robina Gokongwei-Pe said.

    “We have also gotten into a good start this 2016 with solid same-store sales growth for the first two months of the year as we benefited from increased consumer spending from a still robust domestic economy. We will continue with our footprint expansion, with focus on areas outside Metro Manila,” Gokongwei-Pe said.

    The opening of new stores expanded the company’s gross floor area by 9.7 per cent year-on-year, the company said.

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  • Robinsons Retail Philippines chair retires

    Robinsons Retail Philippines chair retires

    The Philippines’ second wealthiest man according to Forbes, John Gokongwei Jr, has retired as chair and CEO of Robinsons Retail Philippines.

    Robinsons Retail covers supermarkets and household brands such as Toys ‘R’ Us, True Value and Mini Stop.

    Gokongwei, who will turn 90 on August 11, had announced plans to retire and focus on charity work when he reaches 90.

    Gokongwei was born in China to Filipino parents, and arrived in Cebu when he was one year old. He started his multi-billion dollar retail and property empire in the province south of Manila by trading goods using a bicycle and a small boat off the pier of the province.

    His only son Lance Gokongwei, 49, will take his place, while his brother James Go remains as vice chairman.

    Robinsons Retail reported a net income of P3.1 billion ($67 million) in the first nine months of 2015, up 18.8 per cent year on year as net sales rose 12.7 per cent to P63.3 billion.

    As of the end of September in 2015,  Robinsons Retail had a total of 1466 stores, with 208 new stores, a 10.7 per cent increase in gross floor area to approximately 939,000 sqm over a year ago.

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  • Gokongwei retires as chair of Robinsons Retail

    Gokongwei retires as chair of Robinsons Retail

    Taipan John Gokongwei Jr., the country’s second richest man according to Forbes,  has stepped down as chairman and CEO of Robinsons Retail Holdings Inc. (RRHI), which is in charge of the family’s retail business which include supermarkets and household brands Toys “R” Us, True Value, and Mini Stop.

    His only son Lance Gokongwei, 49, took his place on March 18, while his brother James Go remains as vice chairman.  Go is the chairman and CEO of JG Summit Holdings as of March 21.

    Gokongwei, who will turn 90 years old on Aug. 11, has promised to retire when he reaches 90 and just focus on his philantrophic work.

    In a rare chat with reporters in December last year, Gokongwei said Lance was doing a good job running the family-owned business empire.

    The elder Gokongwei, however, will remain chairman of the Gokongwei Brothers Foundation, which was launched in 1992 with his three brothers. It has helped schools such as Ateneo, La Salle and soon the University of the Philippines.

    Gokongwei, who was born in China to Filipino parents,  arrived in Cebu as a one year old toddler. He then built his multi-billion dollar empire in Cebu by trading goods off on a bicycle and on board a small boat off the pier of the province.

    For someone turning 90, Gokongwei said the only thing he could ask for himself is good health.

    RRHI reported a net income of P3.12 billion in the first nine months of 2015, up 18.8 percent year on year as net sales rose 12.7 percent to P63.3 billion.

    As of the end of September last year, RRHI had a total of 1,466 stores with the addition of  208 new stores. This translated to a 10.7 percent increase in gross floor area to approximately 939,00 square meters over a year ago.

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