Latest news with #Spencer'sRetail
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
20-05-2025
- Business
- Time of India
Online & instant: Reliance Retail, More and Spencer's begin seeing dark stores in good light
HighlightsReliance Retail, More Retail, and Spencer's Retail are opening standalone dark stores to compete with quick commerce platforms like Blinkit, Swiggy Instamart, Zepto, and BigBasket, which have captured significant market share in urban areas. According to NielsenIQ, ecommerce has seen a substantial increase, with a 40% growth rate, while traditional trade has experienced a decline, indicating a shift in consumer purchasing behavior towards online grocery shopping. More Retail has successfully launched 45 dark stores, with plans for an additional 100, while Spencer's Retail is piloting dark stores to enhance its quick commerce capabilities in cities with high demand. Chains such as Reliance Retail , More and Spencer's have started to open standalone dark stores to match the speed of their online competitors, company executives said. They had initially resisted the quick commerce model. Quick commerce platforms such as Blinkit, Swiggy Instamart, Zepto and BigBasket have eaten into the share of kiranas and retail chains in the top eight to 10 cities, as consumers seek instant gratification of what was their monthly grocery shopping. Dark stores are mini warehouses that typically serve a 2-3 km radius, allowing faster deliveries of online orders. Dinesh Taluja, chief financial officer at Reliance Retail, recently told analysts that while the retailer wants to deliver online orders in less than 30 minutes, it has started to set up dark stores in 'some dark pockets' where there's enough volume and which cannot be serviced from its store network in this timeline. He said the country's largest retailer is at present using its 2,000-odd stores to deliver within a 3-km radius, covering 4,000 pin codes. Vinod Nambiar, managing director of More Retail , said the company has just set up 45 dark stores, with 100 more in the pipeline. It has set up some of these in New Delhi. High Shopping Engagement Online The Amazon-Samara Capital-owned retail chain has exited its brick-and-mortar operations in Delhi. It is eyeing Mumbai too, where it has no operations currently. Nambiar said a dark store is viable in high-demand micro markets—with high population density and many high-rises—provided the rent is manageable. 'There are standalone dark stores in cities where we have no operations, while in cities where we have stores—such as Kolkata, Hyderabad, Bengaluru and Cochin—we will convert a hybrid store (which does both store and online business) into a dark store as the market matures into online,' said Nambiar. More is the largest preferred seller in Amazon's food and grocery business, Amazon Fresh, in India. NielsenIQ , FMCG market researcher, in its report for January-March, said there was a shift towards ecommerce in metros, with high shopping engagement impacting share of modern trade and kiranas. NielsenIQ figures show the growth of ecommerce was largely volume-driven — up 40 per cent compared to a 2.2 per cent fall in traditional trade growth rate and 7.7 per cent decline in modern trade. The researcher said this was supported by increasing online shopper penetration, more purchase occasions and increasing basket sizes, or more units purchased per shopper. Spencer's Retail chief executive Anuj Singh told analysts on Friday that though dark stores are not a focus area, it has piloted one in Kolkata, where it felt the store reach was not sufficient for a 30-minute delivery. He said the company's quick commerce service currently processes 1.7 lakh bills per month, which it wants to take up to three lakh per month in this fiscal, with expansion into markets such as Lucknow and Varanasi.
Economic Times
16-05-2025
- Business
- Economic Times
Stocks in news: Bharti Airtel, JSW Energy, Garware Technical Fibres, Spencer's Retail and Godfrey Phillips
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Indian benchmark indices staged a sharp recovery from intraday lows on Thursday, ending in the green for the second consecutive session. The rally was led by market heavyweights Reliance Industries (RIL), ICICI Bank, and HDFC Bank, with strong support from the auto and IT sectors. The BSE Sensex climbed 1,200.18 points or 1.5%, to settle at 82,530.74, while the Nifty jumped 395.20 points or 1.6% to finish at 25, markets resume trading today, Bharti Airtel Spencer's Retail and Godfrey Phillips will be in focus due to various related Airtel, JSW Energy, Garware Technical Fibres, Spencer's Retail, Godfrey PhillipsBharti AirtelSingapore Telecommunications Limited (Singtel) is likely to sell nearly 5 crore shares in Indian telecom major Bharti Airtel via block deals with the deal size estimated at Rs 8,500 crore ($1 billion). The floor price is likely set at Rs 1,800 per share which is a 3.6% discount from the current market price, CNBC-TV18 reported, citing currently owns 9.49% stake representing over 57.82 crore shares in Bharti Airtel through its subsidiary Pastel EnergyJSW Energy on Thursday reported a consolidated net profit growth of 16% to Rs 408 crore in Q4FY25 versus Rs 351 crore reported in the year ago period. The company's revenue from operations in the March-ended quarter stood at Rs 3,189 crore, which was also up nearly 16% versus Rs 2,755 crore in the corresponding quarter of the last financial company's board today approved a proposal to raise up to Rs 10,000 crores in one or more tranches by way of private offerings and/or on preferential allotment basis and/or via qualified institutions placement (QIP) mode. The renewable power generation company also recommended a dividend of Rs 2 per equity share for the financial year 2024-25 to the members of the Technical FibresThe company announced its net profit after tax increased at 1.4% to Rs 71.05 crore in Q4FY25 as against Rs 70.07 cr in the corresponding period of FY24. Net sales increased by 13% to Rs 432.55 cr in Q4FY25 as compared to Rs. 382.27 crore in Q4FY24. Operating EBITDA increased by 8% to 98.26 crore in Q4FY25 as compared to Rs. 91.35 crore in the same period last RetailSpencer'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 the March quarter from Rs 546.79 crore a year ago. Total expenses were lower by 22.2% to Rs 491.60 crore in the quarter. Total income, which includes other income, fell 23.22 per cent to Rs 423.13 PhillipsCigarette maker Godfrey Phillips India on Thursday reported a 30.73% rise in its consolidated net profit to Rs 293.96 crore in the March quarter of FY25. The company had posted a net profit of Rs 224.86 crore during the January-March period a year ago. Its revenue from operations was up 70.6% to Rs 1,887.79 crore during the March quarter of FY25. It stood at Rs 1,106.64 crore in the corresponding period of the previous fiscal.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
16-05-2025
- Business
- Time of India
Stocks in news: Bharti Airtel, JSW Energy, Garware Technical Fibres, Spencer's Retail and Godfrey Phillips
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Indian benchmark indices staged a sharp recovery from intraday lows on Thursday, ending in the green for the second consecutive session. The rally was led by market heavyweights Reliance Industries (RIL), ICICI Bank, and HDFC Bank, with strong support from the auto and IT sectors. The BSE Sensex climbed 1,200.18 points or 1.5%, to settle at 82,530.74, while the Nifty jumped 395.20 points or 1.6% to finish at 25, markets resume trading today, Bharti Airtel Spencer's Retail and Godfrey Phillips will be in focus due to various related Airtel, JSW Energy, Garware Technical Fibres, Spencer's Retail, Godfrey PhillipsBharti AirtelSingapore Telecommunications Limited (Singtel) is likely to sell nearly 5 crore shares in Indian telecom major Bharti Airtel via block deals with the deal size estimated at Rs 8,500 crore ($1 billion). The floor price is likely set at Rs 1,800 per share which is a 3.6% discount from the current market price, CNBC-TV18 reported, citing currently owns 9.49% stake representing over 57.82 crore shares in Bharti Airtel through its subsidiary Pastel EnergyJSW Energy on Thursday reported a consolidated net profit growth of 16% to Rs 408 crore in Q4FY25 versus Rs 351 crore reported in the year ago period. The company's revenue from operations in the March-ended quarter stood at Rs 3,189 crore, which was also up nearly 16% versus Rs 2,755 crore in the corresponding quarter of the last financial company's board today approved a proposal to raise up to Rs 10,000 crores in one or more tranches by way of private offerings and/or on preferential allotment basis and/or via qualified institutions placement (QIP) mode. The renewable power generation company also recommended a dividend of Rs 2 per equity share for the financial year 2024-25 to the members of the Technical FibresThe company announced its net profit after tax increased at 1.4% to Rs 71.05 crore in Q4FY25 as against Rs 70.07 cr in the corresponding period of FY24. Net sales increased by 13% to Rs 432.55 cr in Q4FY25 as compared to Rs. 382.27 crore in Q4FY24. Operating EBITDA increased by 8% to 98.26 crore in Q4FY25 as compared to Rs. 91.35 crore in the same period last RetailSpencer'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 the March quarter from Rs 546.79 crore a year ago. Total expenses were lower by 22.2% to Rs 491.60 crore in the quarter. Total income, which includes other income, fell 23.22 per cent to Rs 423.13 PhillipsCigarette maker Godfrey Phillips India on Thursday reported a 30.73% rise in its consolidated net profit to Rs 293.96 crore in the March quarter of FY25. The company had posted a net profit of Rs 224.86 crore during the January-March period a year ago. Its revenue from operations was up 70.6% to Rs 1,887.79 crore during the March quarter of FY25. It stood at Rs 1,106.64 crore in the corresponding period of the previous fiscal.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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.
