Spencer's Retail news and archive

Spencer’s Retail Q3 revenue up seven per cent, continues to strengthen retail

Spencer’s Retail revenue from operations for the third quarter has grown seven per cent. During the October to December period, the multi-format retailer strengthened its retail presence with the addition of nine new stores to take its store count to 146 and also boosted the delivery network for its e-commerce website to eight cities. The...

Business

Spencer’s Retail aims to turn profitable by 2018-19

RP-Sanjiv Goenka Group company Spencer’s Retail, expects to turn profitable in 2018-19, having made a pre-tax profit in the third quarter of 2017-18. Sanjiv Goenka, Group Chairman says for the first time, Spencer’s has become PBDT (profit before depreciation and tax)-positive in the quarter ending December 2017. Its turnover stood at Rs 570...

Retail

Spencer’s Retail to expand range and add apparels

Spencer's Retail will soon launch an apparel line. The thinking is that apparel contributes a much higher margin than food. Its own brands cover a lot of articles in the food space, including rice, pulses etc. The multi-format retailer has been taking a string of measures to improve its performance. Spencer's average revenue per square feet per...

People

Spencer’s Retail’s Mohit Kampani quits, hunt for a successor

Mohit Kampani, Managing Director, Spencer’s Retail has put in his papers. His resignation has been accepted and he will be in office till July. This is the second time that he put in his papers. Around a year ago he had resigned but his resignation was not accepted. The apparent reason behind Kampani’s resignation is that he was not able to...

Retail

Spencer’s Retail opens two hypermarkets in Hyderabad

Spencer’s Retail has opened two new hypermarkets in Hyderabad taking the number of stores in the city to five. Part of the RP-Sanjiv Goenka Group, the company now operates 120 stores across 35 cities in India. Of the 12 stores planned this fiscal, five were launched in Hyderabad. The two hypermarkets are located in L B Nagar spread over 30,000...

Retail

Spencer’s Retail ropes in E&Y to plan its ecommerce foray

Spencer's Retail has brought consultancy firm Ernst & Young on board to structure it online firm, which it plans to launch in the next six months. The company plans to launch a separate firm to manage its online business so that it can attract overseas investments if the government opens ecommerce segment selling directly to consumers to foreign...

Retail

Spencer’s Retail may go online by April 2015

Spencer’s Retail, a subsidiary of Sanjiv Goenka group’s CESC may firm up its e-commerce plans by April this year. Beginning with a few categories, the company would offer same prices online as well as through its physical stores, apart from expanding its basket of private labels in food and apparel categories. For the apparel segment, Spencer’s...

Business

Spencer’s Retail to demerge after booking profits

The demerger of Spencer's Retail from RP-Sanjiv Goenka Group's flagship company CESC will take place only after the company succeeds in achieving it target of booking profits. Spencer's posted a net loss of Rs 166 crores from a revenue of Rs 1,458 crores during FY14. Pathik Retail, the holding company of Spencer's was merged with CESC in 2007 to...

Apparel

Spencer's Retail shuts Mumbai store, exits western market

Spencer's Retail, promoted by RP-Goenka Group, has pulled the shutters of its flagshipstore at Inorbit Mall in Mumbai. The hypermart format store spread across 40,000 square foot, is currently nit operational indicating a complete exit of the retailer from the western market. The space would be replaced by a bouquet of retail brands who have...

Apparel

Spencer's to open 80 new hypermarkets

Spencer's Retail, the retail devision of the RP-Sanjiv Goenka Group plans to invest at least Rs 250 crores to open 80 new hypermarkets across the country over the next 4 years. The company is mulling an initial public offering sometime next year to fund its expansion plans. The aim is to aggressively expand to take the store count beyond the 200...

Apparel

Spencer’s to build world-class hypermarkets in India

Making a comeback in true sense, RPG group-led Spencer’s Retail is all set to change the organised retail scenario in India by introducing world-class, sprawling hypermarkets at select locations. The company will expand offerings on the service side, bringing them closer to what is offered in the West, in terms of the wide range of products and...

Apparel

Spencer’s eyes Avigo’s stake in Spykar

Spykar Lifestyle seems to be up for grabs and Spencer’s Retail, the flagship company of RP-Sanjiv Goenka Group has joined the race to acquire the biggest domestic denim maker. Spencer’s is said to be in early stages of discussions with Avigo Capital, a private equity (PE) major that holds 60 per cent stake in Spykar. The PE fund manager has...