Page 2 - Retail Stores

Reliance Retail Q3 profit rises 31.87% to Rs 3,165 cr; revenue up 23.7%

Reliance Retail Venture Ltd (RRVL) on Friday reported a 31.87 per cent rise in its net profit to Rs 3,165 crore for the third quarter ended in December 2023. Its revenue from operations surged 23.75 per cent to Rs 74,373 crore in the December quarter of FY24, led by its grocery, fashion & lifestyle and consumer electronics businesses. The retail arm of billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) posted a net profit of Rs 2,400 crore in the October-December quarter of FY2022-23, and its revenue from operations was Rs 67,623 crore. The gross revenue of Reliance Retail was up 22.83 per cent to Rs 83,063 crore in the December quarter. Its EBITDA margin from operations on net sales was at 8.1 per cent, up 40 bps Y-o-Y driven by operating leverage and continued focus on cost management, said an earning statement from RIL. During the quarter, Reliance Retail added 252 new stores to its network, taking the total count to 18,774 stores. At the end of the December quarter, ..

30 major retail brands entered 14 Tier-II cities during Jan-Sep: Report

More than 30 major retail brands opened their stores in 14 Tier-II cities during the January-September period of last year, according to property consultant CBRE. In its report 'Tier-II Cities: The Time to Shine' released on Tuesday, CBRE said that several domestic and international retail brands, including Croma, Armani Exchange, Malabar Gold & Diamonds, Reliance Smart, Tanishq, H&M, Marks & Spencer, GAP, Starbucks, Pizza Express and Under Armour, have expanded their retail footprint to Tier-II cities. The Tier-II cities are Chandigarh, Jaipur, Indore, Goa, Mangalore, Kochi, Lucknow, Patna, Ranchi, Guwahati, Bhubaneshwar, Vizag, Mysore and Coimbatore. The total retail real estate space in these 14 Tier-II cities stood at 29 million square feet as of September 2023, with Jaipur, Lucknow, and Chandigarh each boasting of retail real estate space ranging between 3 to 7 million square feet, as per the report. The retail development in these cities has been a healthy mix of ...

New supply of retail space up 72% last year to nearly 6 mn sq ft: Cushman

The new supply of retail space in shopping malls increased 72 per cent last year to 59.48 lakh square feet across eight major cities to meet rising demand from retailers, according to Cushman & Wakefield. In 2023, as many as 11 shopping malls became operational, covering 59,48,395 square feet of space across the top eight cities. In the previous year, nine malls came into eight markets, totalling 34,49,222 square feet area. Hyderabad witnessed the completion of three shopping malls, while Pune and Chennai had two each. One shopping mall each came up in Mumbai Metropolitan Region, Delhi-NCR, Bengaluru and Ahmedabad. No fresh supply was seen in Kolkata. With 59 lakh square feet of mall commencing operations across the top 8 cities in India, Cushman said the year 2023 saw the biggest supply addition in the post-COVID world. In 2019, the same cities witnessed a new supply addition of around 50 lakh square feet of Grade-A and B+ malls. Saurabh Shatdal, Managing Director, Capital ...

Apple Inc loses one of its last remaining designers from Jony Ive era

The executive worked on hardware design for Apple's main products and helped craft the look of its headquarters and retail stores

Jaipur traders demand new wholesale trade hubs for smooth business

The walled city of Jaipur, known globally as Pink City, is a Unesco world heritage site

Travellers may now be able to buy onions, atta at major metro stations

If the plan is successful in Delhi, it may also be extended to other cities with metro networks like Chennai, Mumbai and Bengaluru

After Mumbai, UNIQLO India may consider opening stores in Pune next

After expanding in the north, the Japanese retailer is set to open its first store in Mumbai on October 6 and still believes there is room to open more stores within the city

Grasim plans to open 100-120 retail stores in smaller cities in next 2 yrs

The textile division of Grasim Industries is planning to expand its footprint in smaller cities and towns by opening around 100-120 retail stores over the next couple of years, a senior official of the company said. It also hopes for a surge in demand for textile products in the upcoming festive season. "We are optimistic about the growth story of India. We plan to expand in both retail and wholesale businesses. Over the next two years, we plan to open 100-120 Linen Club retail stores in smaller cities and towns," Satyaki Ghosh, CEO, (Domestic Textiles), told PTI in an interview. Linen Club is Grasim Textiles' premium brand of linen products. Linen comprises about one-third of the company's textile business of around Rs 3,000 crore. Currently, Grasim Textiles has around 217 brand stores across the country. Ghosh, who was in Kolkata to inaugurate a Linen Club store, said the company also plans to expand its reach to 12,000 multi-brand retailers in these markets, from about 8,500 at

Foreign retail's rising stake in India

Walmart's India journey reflects not only its survival in a market it considered invaluable but also the country's rise as a preferred destination for businesses, despite the odds

Trent rallies 7% to hit a new high in a tepid market on strong Q1 results

Brokerages estimate that Trent's robust performance during challenging times and industry leading performance will continue to warrant premium valuations

Retail chain Shoppers Stop Q1 consolidated profit down 36% to Rs 14.5 cr

Retail chain Shoppers Stop on Monday reported a 36.5 per cent decline in consolidated net profit to Rs 14.49 crore in the June quarter. The company had posted a net profit of Rs 22.83 crore in the April-June period a year ago, Shoppers Stop said in a regulatory filing. Revenue from operations in the first quarter of this fiscal was at Rs 993.61 crore, up 4.76 per cent against Rs 948.44 crore in the year-ago period. Its total expenses in the June quarter were at Rs 980.92 crore, up 6.43 per cent. As per its latest annual report, the company operates 270 retail stores, including 98 departmental stores, 132 speciality beauty stores of MAC, Est e Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, SS Beauty, and 23 Airport doors. Shoppers Stop shares on Monday settled at Rs 761.90 on the BSE, down 2.4 per cent from the previous close.

Future Retail insolvency proceedings: NCLT extends deadline to Aug 17

The debt-laden firm has requested multiple extensions in the past

China's Xiaomi bets bigger on India retail stores amid Samsung rivalry

But while 44% of India's smartphones sales are now online, the brick-and-mortar segment remains the bigger play and Xiaomi expects it to grow further

Online retail market to grow 2.5x faster than offline till 2030: Deloitte

The overall offline market, however, will continue to be the bigger market, with a total value of $1,605 billion in 2030

Urban Ladder to double its retail store presence in India by March 2024

Furniture and home decor brand Urban Ladder, which on Wednesday opened its 50th store, said it plans to double this store count by March 2024. The company, which opened its latest store in Kolkata, has rapidly scaled up its offline presence in the last nine months as it was operating only 13 stores until June 2022. "... the company plans to expand its retail stores in 32 cities by 2023 and aims to double this number by March 2024," Urban Ladder said in a statement. Starting its journey as an online brand, the company would continue to strengthen its presence in the e-commerce segment. "The world of e-commerce is rapidly expanding, and Urban Ladder also aims to strengthen its online presence through UL.com and Jiomart," it said. Urban Ladder Chief Business Officer Nishant Gupta said the company has a robust expansion plan to cater to consumers across various metro and non-metro markets. "Our customers have always supported and motivated us to create unique offerings and every comp

The webrooming phenomenon: Research online, purchase offline

Webrooming theory states that some consumers do their research online but then end up purchasing the product offline, in a physical retail store

Upcoming retail trade policy to help brick and mortar traders: Centre

The Centre plans to come out with a retail trade policy which would provide more credit and better infrastructure to brick and mortar traders

Leasing of retail space across 8 cities rose 21% last year, says CBRE

Leasing of retail real estate space during last year rose 21% to 4.7 million square feet across eight major cities mainly on rising demand from Food and Beverage (F&B), fashion and apparel retailers

FRAI appeals Centre to cut high taxes on daily goods to stem illicit trade

FRAI made a representation to Finance Minister Nirmala Sitharaman with an appeal to protect the interests of its 80 lakh retailers

Spencer's Retail casts net wide to reel in value-conscious consumer

Hypermarket chain to focus on tier III, IV cities, launch to be held in phases