RRHI profit down in Q1, declares P2.13-B dividend before PSE exit

ROBINSONS Retail Holdings, Inc. (RRHI) reported a 35.66% decline in first-quarter (Q1) attributable net income to P489 million and declared a dividend totaling about P2.13 billion.

Attributable net income fell from P760 million a year earlier, as higher interest expenses linked to acquisition financing and share buyback activity, as well as losses from equity investments, weighed on results, the company said in a statement on Thursday.

Core net earnings, however, rose 6.2% to P1.32 billion, supported by stronger sales performance and steady operating margins.

Net sales increased 10.3% to P52.76 billion from P47.82 billion, driven by a 4.1% rise in same-store sales and additional contributions from new store openings, including the full-quarter impact of Premiumbikes.

The company said growth in basket size contributed to the improvement in comparable sales.

Operating income climbed 3.7% to P2.01 billion from P1.94 billion in the same period last year.

“While our business demonstrated resilience in the first quarter, we continue to be mindful of the heightened uncertainty related to the Middle East conflict,” RRHI President and Chief Executive Officer Stanley C. Co said.

“Ongoing geopolitical risks are already translating into higher operating costs and softer consumer confidence as we enter the second quarter. Against this backdrop, we remain focused on executing well in the areas within our control,” he added.

As of March 31, RRHI operated 2,782 stores, including 805 food stores, 1,187 drugstores, 51 department stores, 234 DIY stores, and 505 specialty stores, along with more than 2,100 franchised TGP outlets.

RRHI said its board approved a cash dividend of P2 per share, amounting to about P2.13 billion.

The payout represents 40% of the company’s 2025 consolidated net income attributable to equity holders, excluding one-off non-cash gains.

The dividend is separate from the P48.30-per-share tender offer by JE Holdings, Inc., which is part of a plan to voluntarily delist RRHI from the Philippine Stock Exchange (PSE).

RRHI said shareholders on record as of May 28, who participate in the tender offer will receive both the dividend and the tender offer price, bringing total proceeds to P50.30 per share.

At the local bourse on Thursday, RRHI shares rose 1.29% to P47.20 each. — Alexandria Grace C. Magno