Future Retail news and archive

Future Retail to continue focus on Big Bazaar and FBB

Future Retail will continue to focus on the expansion of its Big Bazaar and Fashion Big Bazaar (FBB) stores. Currently, Big Bazaar and FBB contribute around 85 per cent to the company’s overall revenue. Future Retail saw a drop in footfalls amid the economic slowdown but is confident of a revival in the fourth quarter on the back of its...

Business

Future Retail raises funds through warrants

Future Retail, the retail arm of the Future Group has raised around Rs 2,000 crore (approx 286.7 million dollars) through issue of warrants to its promoter group entity on a preferential basis. With this, the shareholding of the promoter and promoter group in Future Retail was 47 percent at the end of March 2019.The fund has been approved by...

Retail

Amazon looking to buy 9.5 per cent stake in Future Retail

As per media buzz, Amazon is set to acquire a 9.5 per cent stake in Future Retail, potentially giving the ecommerce platform access to nearly a third of the country’s organised food and grocery market through the Big Bazaar and Nilgiris supermarket chains and other outlets. The companies started exploring an alliance in January this year when...

Retail

Amazon eyes 10 per cent stake in Future Retail

American e-commerce giant Amazon is looking to acquire a 10 per cent stake in Future Retail. Amazon is expected to pick up these shares — through the foreign portfolio investors route — at a hefty premium to the prevailing share price for gaining business exclusivity and future shareholding rights. Future Retail shares ended 14 per cent higher...

Retail

Future Retail teams up with Khimji Ramdas for JV to operate FBB stores in Oman

Future Retail has formed an equal joint venture with Khimji Ramdas LLC to form a joint venture to operate FBB apparel stores in Oman and other member states of the Gulf Cooperation Council (GCC). Both Future Retail and Khimji Ramdas will have the right to appoint three directors to the board of the new company which will be based in Oman, Future...

Retail

Future Retail plans to open new distribution centres

From July 1 Future Retail will be opening new distribution centres to make sure that the products reach its stores faster and help save on costs through greater efficiency in view of the implementation of goods and services tax Future Group has 2 distribution centres in Nagpur (Maharashtra) and Burdwan (West Bengal). The company offers food and...

Retail

Future Retail Q4 profit up 17 per cent

For the fourth quarter Future Retail posted a 17.3 per cent increase in net profit. Net sales increased 24 per cent. Same-store sales growth in the quarter was 13.3 per cent. Future Retail is the operator of stores such as Big Bazaar, Easyday and Foodhall. For the year ended March, Future Retail’s profit saw a 25-fold jump. Total income for...

Business

Future Retail stock rally with positive business moves

Future Retail’s shares are set to rally 22 per cent in the next 12 months. The stock has surged 128 per cent since January. Sales may jump 25 per cent this year as the company adds to its chain of 1,000-plus stores. Future Retail swung to a profit in the nine months ended December. Revenue jumped almost fourfold. The company has exited non-core...

Business

Future Retail makes Rs 100 crores profit

Future Retail has posted a standalone net profit of Rs 101.05 crores for the third quarter ended December 31. The company had posted a net profit of Rs 53.83 crores in the October-December period of the previous fiscal. Total income from operations stood at Rs 4,420.12 crores in the quarter under review as against Rs 2,496.07 crores in the...

Business

Future Retail net profit at Rs 73 crores

Future Retail’s standalone net profit for the second quarter was Rs 73.63 crores. Net sales during the second quarter were Rs 4,129.85 crores as against Rs 359.86 crores during the corresponding quarter last fiscal. Total expenses during the quarter stood at Rs 4,071.46 crores. The company had reported a net loss of Rs 56.69 crores during the...

Business

Future Retail expects 15 percent sales growth

Future Retail is expecting its sales to grow 15 to 20 percent annually for the next three to four years. The retail giant is banking on doubling its same-store sales to meet this target. The retailer which currently has an operating margin of 3.5 to 4 percent sees it rising by 5 to 7 percent over the medium to long term. Lowering of working...

Business

Future Retail posts net profit of Rs 70 crores, expands retail floor space

Future Retail has managed a good profit in the quarter ended June. It posted a net profit of Rs 70 crores as compared to a loss of Rs 87 crores during the same period last year. This quarter it had sales worth Rs 3891.51 crores while last year it had Rs 409.41 crores. The company reported a same-store sales growth of 9.4 per cent for its value...