Indicating a clear slowdown in consumer spending, Future Retail, the flagship company of Kishore Biyani-led Future Group, posted a same-store sales growth of 3.3 per cent in the value segment for the December quarter of FY14. It was the lowest growth for the company after four quarters.
"It has to do with the closure of stores and slowdown in the economy," said Abhishek Ranganathan, vice-president, Phillip Capital. Future Retail posted a net profit of Rs 21.7 crore in the December quarter as compared to a loss of Rs 20.4 crore in the corresponding period a year ago.
