Pantaloons suffers net loss of Rs 70.75 cr in Q4

Pantaloons Fashion & Retail, now a part of Aditya-Birla group registered a net loss

of Rs 70.75 crores in the fourth quarter ended on March 31, 2014. It had reported a net loss of Rs 59.52 crores in the January-March quarter of 2012-13 fiscal, the company said in a filing to the BSE. Pantaloons also reported a decline in its Q4 net sales to Rs 400.61 crores against Rs 392.66 crores in the same quarter last year.

For the financial year 2013-14, Pantaloons' net loss widened to Rs 187.73 crores compared to Rs 68.89 crores in 2012-13 fiscal. However, net sales increased to Rs 1,628.62 crores last fiscal from Rs 1,256.72 crores in 2012-13.

In 2012, Aditya Birla Nuvo picked up a majority stake in Future Group owned Pantaloons and decided to infuse Rs 1,600 crores into the fashion chain. Devoting the first year stake acquisition to clear old stocks, streamlining operations and renovating the stores, Pantaloon is now all set to cross a 100 stores mark this year. While 20 outlets were refurbished last year, rest would be done by the end of this financial year with an investment of Rs 1.5-2.5 crore per outlet.

Shifting its focus to private fashion labels, which it believes can bring better margins recently launched three new private brands exclusively for men, infants and plus size individuals. These brands include Byford, a British country inspired sport lifestyle brand for men, Moda targets plus size individuals and Chirpie Pie is created exclusively for infants in the age group 3-24 months.