Spencer’s Retail news and archive

Spencer’s Retail focuses on store profitability

Spencer’s Retail is working on store profitability. Three loss-making stores have shut. The Kolkata-based company currently has a presence in over 35 cities across India. It sells a wide range of products including apparel, footwear, cosmetics, home essentials and more. Spencer’s Retail is working on cultural integration, ensuring continuity of...

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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...

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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...

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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...

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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

Biyani closes unviable Big Bazaar stores

In a bid to improve profitability, the Kishore Biyani-led Future Group has shut down nine Big Bazaar stores last year and revamped existing ones. It also shut five Food Bazaar supermarkets. While the company opened 18-20 Big Bazaar stores in the last year, net store addition stood at 10. Big Bazaar stores at Bangalore, Kharghar and Sangli in...