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 company reported positive ebidta and pat for the quarter with consistent growth. Growth in revenue and profits is driven by new store additions and focus on gross margin expansion.

Spencer's Retail added 19 new stores this fiscal and is growing with more value-added products, an increase in private label share and an emphasis on increasing the apparel sales mix. It is also using the e-commerce channel as an adjunct to physical sales. Spencer’s has moved a part of its portfolio to value-added, differentiated products.

Kolkata-based Spencer’s Retail offers a wide range of products including apparels, footwear, cosmetics, home essentials and more. The main clusters for the company are East UP, West Bengal and Andhra Pradesh. Private labels now consists 13 per cent of the portfolio. Apparel margins have gone up by six per cent and apparel sales are going up.