Latest news with #ShashwatGoenka
Fashion Network
22-05-2025
- Business
- Fashion Network
Spencer's Retail Q4 loss narrows to Rs 68 crore
Spencer's Retail Ltd reported narrowing of its consolidated net loss to Rs 68 crore ($8 million) for the March quarter of financial year 2025, as against loss of Rs 81 crore in the year-ago quarter. The company's revenue for the quarter was down to Rs 412 crore, as against Rs 547 crore in the corresponding quarter of the previous fiscal year. For the financial year 2025, Spencer's Retail narrowed its net loss to Rs 246 crore from Rs 266 crore a year ago while its total income was down Rs 2,098 crore as against Rs 2,370 crore earlier. The company attributed the drop in topline to closure of 47 stores in the second quarter of FY25. Commenting on the results, Shashwat Goenka, chairman of Spencer's Retail in a statement said, 'Spencer's delivered a strong operational performance for FY25 on the back of the strategic decisions and actions taken in H1 to focus on key geographies and optimize the costs in line with the resulting scale. The results of these actions flowed through in H2 with all key operational metrics improving and yielding a significant improvement in EBITDA for FY 25.' 'This puts the company in a good shape to drive growth across Natures Basket & Spencer's, both in the offline and online verticals,' he added. Spencer's Retail is a multi-format retailer offering products across categories such as FMCG, fashion, general merchandise, personal care, home essentials among others.
Time of India
15-05-2025
- Business
- Time of India
Spencer's Retail Q4 loss narrows to Rs 68 cr
Spencer's Retail Ltd on Thursday reported narrowing of its consolidated net loss to Rs 68.40 crore for March quarter FY25. The company had incurred a loss of Rs 80.69 crore in the January-March period a year ago, according to a regulatory filing from Spencer's Retail, a RP Sanjiv Goenka firm. However, revenue from operations was down to Rs 411.87 crore in March quarter from Rs 546.79 crore a year ago. Total expenses were lower by 22.2 per cent to Rs 491.60 crore in the quarter. Total income, which includes other income, fell 23.22 per cent to Rs 423.13 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Indonesia (Prices May Surprise You) Container House | Search Ads Search Now In FY25, Spencer's Retail narrowed its net loss to Rs 246.36 crore from Rs 266.15 crore a year ago. Total income was at Rs 2,098.72 crore as against Rs 2,370.62 crore earlier. There was a drop in topline due to closure of 47 stores of Spencer's in Q2, the company said in its investor presentation. "Spencer's delivered a strong operational performance for FY25 on the back of the strategic decisions and actions taken in H1 to focus on key geographies and optimize the costs in line with the resulting scale. Live Events "The results of these actions flowed through in H2 with all key operational metrics improving and yielding a significant (4X) improvement in EBITDA for FY 25," Chairman Shashwat Goenka said. This puts the company in a good shape to drive growth across Natures Basket & Spencer's, both in the offline and online verticals, he added. Spencer's, which started its quick delivery proposition JIFFY in Kolkata in January has witnessed good traction with strong growth in both orders and user base. "We are taking this to a few other cities in UP and West Bengal in the current fiscal," he said. The total store count along with Natures Basket is 89 across India. Shares of Spencer's Retail on Thursday settled at Rs 65.51 apiece on BSE, down 0.02 per cent from the previous close.
Economic Times
15-05-2025
- Business
- Economic Times
Spencer's Retail Q4 loss narrows to Rs 68 cr
Spencer's Retail Ltd on Thursday reported narrowing of its consolidated net loss to Rs 68.40 crore for March quarter FY25. The company had incurred a loss of Rs 80.69 crore in the January-March period a year ago, according to a regulatory filing from Spencer's Retail, a RP Sanjiv Goenka firm. ADVERTISEMENT However, revenue from operations was down to Rs 411.87 crore in March quarter from Rs 546.79 crore a year ago. Total expenses were lower by 22.2 per cent to Rs 491.60 crore in the quarter. Total income, which includes other income, fell 23.22 per cent to Rs 423.13 crore. In FY25, Spencer's Retail narrowed its net loss to Rs 246.36 crore from Rs 266.15 crore a year ago. Total income was at Rs 2,098.72 crore as against Rs 2,370.62 crore earlier. There was a drop in topline due to closure of 47 stores of Spencer's in Q2, the company said in its investor presentation. "Spencer's delivered a strong operational performance for FY25 on the back of the strategic decisions and actions taken in H1 to focus on key geographies and optimize the costs in line with the resulting scale. "The results of these actions flowed through in H2 with all key operational metrics improving and yielding a significant (4X) improvement in EBITDA for FY 25," Chairman Shashwat Goenka said. ADVERTISEMENT This puts the company in a good shape to drive growth across Natures Basket & Spencer's, both in the offline and online verticals, he added. Spencer's, which started its quick delivery proposition JIFFY in Kolkata in January has witnessed good traction with strong growth in both orders and user base. ADVERTISEMENT "We are taking this to a few other cities in UP and West Bengal in the current fiscal," he said. The total store count along with Natures Basket is 89 across India. Shares of Spencer's Retail on Thursday settled at Rs 65.51 apiece on BSE, down 0.02 per cent from the previous close. (You can now subscribe to our ETMarkets WhatsApp channel)
The Guardian
19-02-2025
- Sport
- The Guardian
Future of cricket up for debate
Two consecutive days, two cricket events, two very different visions. One, at Old Trafford last Friday, was all sharply pressed chinos and beaming smiles, as Lancashire held a press conference to celebrate their link up with the RSPG group, who have agreed to pay £80m for a 70% stake in the Manchester Originals. A miked up Warren Hegg compered proceedings, including a video link with the RSPG vice-chair Shashwat Goenka – now the proud owner of a third cricket franchise alongside Lucknow Super Giants and Durban Super Giants – and who expressed a desire for the Manchester Super Giants Originals to one day rival City and United. The other, last Thursday, at the England and Wales Cricket Board's performance centre at Loughborough University, was a lot less corporate and a little less ironed, as a group of academics gathered to discuss the future of cricket. This was the second meeting of the Cricket Research Network (chaired by the Guardian's Raf Nicholson) and the various speakers covered an almost overwhelming number of topics, each with a strict 20-minute time limit. Some subjects were gentle. Rochana Jayasinghe discussed the changing language of cricket: how pursed-lip fielding restrictions have become the bombastic power play, how terminology has become de-sexed (from batsman to batter), the invention of new words to describe new shots – the scoop, the helicopter, the switch hit, and with an eye to the future, the increasing use of AI and algorithmic language. There was also a cracking talk on cricket's use of animation over the years from Loughborough University's Paul Wells, who traced its development from Arthur Melbourne Cooper's 1899 film of matchstick men batting, to the ball tracking seen today. But there was meat on the bone too. Hina Shafi is a year into her PhD on the ethnic profile of the ECB's girls talent pathway and women's Super League (with some of her funding coming from the ECB, SACA, ACE and Take Her Lead.) Her data analysis has found, frustratingly, though perhaps to no one's great surprise, that black girls and women are under-represented throughout the talent pathway – amounting to less than 1% of those playing. In the professional game, only two of 157 women and girls are black. The data revealed too that although South Asian women are over represented at youth level, they become under represented when they get older – with only five players from that background currently in the professional game. Shafi's research also showed that women from state school backgrounds are better represented than in the men's game – at 69.3% of all those in the talent pathway, but private schools are still significantly over-represented (28.7%). In her second year, she will be working to find out why these anomalies exist. A second hair-raising talk came from Steve Menary. He has long looked into the way betting firms have got their teeth into sport, particularly football. But here he was focusing on cricket – specifically the burgeoning world of the T10, a format that isn't recognised by the ICC and seems to be a yahooing wild west, where players fly in and out with abandon, pay is often hit and miss, and where cricketers inexplicably underperform. Scandals have hit the Abu Dhabi T10, the Lanka T10, the Zim Afro T10 and, surely, another T10 league near you anytime soon. Menary recommended that the ICC consider legitimising the format and providing integrity units at each pop-up competition at the organiser's cost. As Alex Marshall, the head of the ICC's anti-corruption unit, said as he came to the end of his term: 'I am also absolutely sure that corruptors are constantly looking for a route into the game, particularly in badly run lower-level franchise leagues. The threat to the game is corruptors won't go away while there is always money to be made and they will look for weakness in the system to get in.' Plenty here then for the ECB and Professional Cricketers' Association (who both had representatives at the conference) to get their teeth into – as news broke that nouveau riche London Spirit are considering whether to include some of the MCC's signature egg and bacon colours on their strip. Plus ça change … To be able to play for Middlesex – a fine club with a rich heritage – is really exciting and something that I'm really looking forward to being a part of' – Kane Williamson, after signing for a chunk of the 2025 season, including five County Championship games towards the business end of the summer. Quite the coup for a club that has been through the mill. The importance of how we get to the future, in a more prosaic sense, was also discussed during a Travel and Transport webinar from Basis (British Association for Sustainable Sport) last week. One of the snippets from all the data was that 0.4% of all global carbon emissions come from football and 60-70% of that is travel to and from games. There isn't the same detailed analysis of cricket, but there are individual case studies that illustrate the game has a similar problem: during the last T20 finals day, 79% of the carbon emissions came from spectator and staff travel. Alongside those carbon emissions comes air pollution, which the WHO estimates causes about 4.2m premature deaths a year worldwide and, as a recent survey published in Nature Communications shows, reduces cognitive ability. So finding ways to reduce cricket fans' reliance on fossil fuels is a win-win. Mark Hand from MobilityWays stressed the need to first understand how fans travel to the game before trying to find solutions. He praised a survey by Brighton & Hove Albion of their 20,000 season ticket holders. Analysis revealed opportunities to increase cycling by fans who live nearby, thereby reducing pollution and traffic congestion near the ground, but the big beast in terms of carbon emission is getting those who live further away out of their car or sharing their car. This is being done with increasing frequency by football fans in France. Other examples of positive action in football include using electric coaches (a partnership between the Big Green Coach company and Tottenham), park and ride (Southampton), and an integrated public transport ticket (Newcastle) – Edgbaston did something similar during their Go Green Game last year. Food for thought for cricket. At 147 for eight, West Indies' position looked hopeless at the Oval in September 2004. Marcus Trescothick's 104 had helped England to post 217 all out in the Champions Trophy final before Andrew Flintoff and Steve Harmison tore through the tourists' top order. But Courtney Browne (35 not out) and Ian Bradshaw (34 not out) somehow managed to steer Brian Lara's side home. 'It was pitch-black out on the field when this match came to its sensational climax at 6.36pm with an astonishing West Indies victory,' wrote Vic Marks. 'Moments later it must have been dark as thunder in the England dressing room.' England still have not won the event; West Indies did not qualify for the last staging, in 2017, or the imminent one. The Hundred could introduce an Indian Premier League-style open auction next year. Read Matt Hughes's exclusive report. Simon Burnton sizes up the teams contesting the Champions Trophy that begins on Wednesday. Ali Martin on the Champions Trophy, the tournament that refuses to die. And Charlotte Edwards, now coaching four different franchise teams, tells James Wallace: 'I want to get English cricket back to where I know it can be.' … by writing to To subscribe to The Spin, just visit this page and follow the instructions.
The Guardian
14-02-2025
- Business
- The Guardian
New owners want Manchester Originals to rival profile of City and United
Challenging football heavyweights Manchester United and Manchester City is within the reach of the Manchester Originals, according to the Hundred franchise's new majority share owner. Shashwat Goenka, the vice chairman of RPSG, which bid £80m for a 70% share of the Originals this month, told a press conference at the cricketing Old Trafford that his confidence was born from the city's status as a global sporting powerhouse. 'We are not football, we are cricket,' Goenka said, speaking remotely from India. 'This is not about football fans, this is about cricket fans and we want the Manchester franchise in the Hundred to be become the third biggest sports team in Manchester and challenge those two sports teams in Manchester.' If the deal goes ahead, the Originals will become the third cricketing franchise owned by RSPG, who are also the wallet behind IPL team Lucknow Super Kings and South Africa's Durban Super Giants. The new dawn had broken cold at Old Trafford, three degrees and a bitter easterly wind, but Dave on reception was top to toe in Manchester Originals gear and the corporate branding surrounding the press conference had been updated, with the Super Kings taking their place alongside Lancashire and the Originals RPSG originally had their eye on London Spirit – whose 49% stake was eventually sold for £144m to a consortium including Google, Microsoft, and Adobe executives – but seemed happy with their lot. 'Lord's is Lord's, but Manchester is Manchester and while we did bid aggressively for Lords, we stopped at a point and I'm extremely happy,' said Goenka. 'Manchester is a global sporting hub, one of the top five sporting cities in the world. It has a rich sports history and a rich cricketing history, and it's supported by passionate fans. Old Trafford itself is a landmark. The rich legacy of the Lancashire County Cricket Club is unparalleled. So in a nutshell, the Manchester Originals is hugely attractive.' Was he worried about the Manchester rain washing out games in a time of weather extremes. 'I have not thought about that per se, and the weather gods are not in our hands, so …' Daniel Gidney, the Lancashire CEO who has overseen the deal which, in total, gives Lancashire a payday north of £25m plus 3% of the new TV deal to come in 2029, paid credit to late chairman David Hodgkiss. Sign up to The Spin Subscribe to our cricket newsletter for our writers' thoughts on the biggest stories and a review of the week's action after newsletter promotion 'He was the one who pulled me aside during the India-Pakistan game here in 2019 and said: 'Daniel, look at how this crowd celebrates a single cricket match. Look at the passion, look at the energy.' He said: 'That's what we need in Lancashire, that's what we need in Manchester, that's what we need in UK in cricket.' In many ways he was a visionary and he was absolutely right.' What Lancashire will do with the windfall is still in discussion, some will go to servicing their debt plus investment in infrastructure including the cricket centre which 'could do with a bit of love', members facilities and the new setup in Farringdon. The Originals chair, James Sheridan, poured tepid water on ECB excitement about expanding the competition – 'whether it makes sense for team owners and the existing eight teams, we'll have to see' – while questions about future name changes, a possible switch away from 100 ball to a T20 format, the changing of start times to suit the Indian market and the possible signing of players to franchises were batted away. For now, the atmosphere was giddy excitement.
