Retail companies are expected to witness a tepid strong same-store sales growth (SSSG) expansion in the third quarter (October - December) of the current financial year (Q3FY24) on the back of subdued sales in the festival season. The third quarter of the financial year typically witnesses higher sales since it coincides with the festival season. This time around, weak customer sentiment has dragged down SSSG.
The stock of Aditya Birla Fashion Retail is down 10 per cent from its February high. Even as the revenue performance of the apparel retail major in the October-December quarter's for the 2022-23 financial year (Q3FY23) was better than expected, the company saw brokerage downgrades, given the weak operating performance and the pressure on margins. This the second consecutive quarter of margin miss despite strong traction on the sales front.
With the spate of businesses turning their attention to Ayodhya, land rates have shot up, in some pockets by as much as 10 times. Whether one walks into a hotel lobby or sits down for a meal, land deals are being discussed at every other table -- one on one or among groups.
The retail industry witnessed robust top-line growth for the greater part of the previous financial year, but demand has started to show signs of fatigue seen in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23), especially in the apparel and innerwear segments. Jewellery, however, has managed to hold on to demand in the quarter. "In the discretionary space, demand moderation in urban markets is expected to impact the quick-service restaurant and apparel categories the most, while paint, luggage, and jewellery should see resilient growth," Systematic Institutional Equities observed in its preview of the sector.
Notwithstanding the inflation pinch, analysts believe the Indian retail sector is on the 'cusp of accelerated earnings growth' as consumer sentiment and discretionary purchases bounce back from the Covid-19 pandemic. "The shift in consumer preference from the unorganised sector to the organised, coupled with uptick in domestic demand as people resume work from office, will cheer the Indian retail sector," says Nishit Master, portfolio manager, Axis Securities. Shopping malls are witnessing increased footfall in lower tier towns and standalone stores as consumption picks up and mobility improves.
The actor was the showstopper at the Great Indian Fashion Week held in Delhi.
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Other fashion formats such as 'Central' mall chain, 'Brand Factory' and 'Fashion at Big Bazaar' remain under Future Group and eye expansion
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
The Aditya Birla Group mayrestructure plan to bring all its retail verticals under Pantaloon Fashion & Retail.
In Nov last year, L&T Finance Holdings had told BSE it was not eligible to be the sponsor of an insurance business, as it was a subsidiary of L&T under the Irda norms
In a break from the recent trend, retailers, led by Kishore Biyani's Pantaloon Retail (India) Ltd, Raheja-owned Shoppers Stop Ltd and the Lalbhai Group's Arvind Ltd, are experiencing strong growth in the fashion segment, thanks to positive consumer sentiments during the current festive season.
Pantaloon Retail (India) Limited, a retail organisation, is recruiting Sales Executives, Head Cashiers, Team Leaders and Supervisors.
The K J Somaiya Institute of Management Studies and Research and the Pantaloon Knowledge Group offer an eighteen-month, full-time Diploma in Retail Management.
In a major expansion into sportswear and lifestyle wear segment, the Kumar Mangalam Birla-led Aditya Birla Fashion & Retail has signed a long-term licensing agreement with Authentic Brand Group of New York, which has the marketing and branding rights of Reebok, to run the operations of the global sportswear, athletic and lifestyle major in the country and ASEAN markets. The new agreement between the largest domestic multi-brand fashion retailer and Authentic Brand is an extension of their existing relationship as ABFRL already markets and sells some ABG brands like Forever 21. The agreement follows the global transfer of ownership of the Reebok brand from Adidas to ABG, which is expected to close in the first quarter of 2022.
Pantaloon Retail India managing director Kishore Biyani has won the 'International Retailer of the Year' award given by the National Retail Foundation of the US.
The head of Pantaloon, India 's leading retailer, has warned that high property prices in big Indian cities are threatening the country's burgeoning retail industry and adding to the pressures brought on by soaring construction and labour costs
Pantaloon Retail, the country's largest retailer, has seen its sales dip for the first time in four years, on subdued consumer sentiment and uncertain prospect of an economic revival. Reflecting the trend, the stock of the company fell 5.1 per cent to Rs 189.8, even as the Sensex rose 3.3 per cent.
Pantaloon Retail (India) is planning to more than double the Big Bazaar stores to reach the 100-mark from the present 41 stores, while substantially increasing its presence in the South besides tier-II cities.
As Indians increasingly take to yoga, apparel brands are seeking to cash in on the opportunity to make a few bucks.
'Kangana is such a stylo, she knows what will look good on her.'
After making handsome profits on Biba and AND, the homegrown retailer plans a string of similar investments.
Azim Premji's Rs 175-crore (Rs 1.75-billion) investment in Future Retail will help Kishore Biyani tide through crisis.
The country's biggest retailer is splicing and selling businesses as it strives to reduce its mountain of debts. In the long run, his operations need to generate cash flows.
Coming close to Future Retail, after 42 per cent revenue growth.
To operate large wholesale markets and imports.
The actor turned showstopper to promote Liva Crme, a new age fabric from Aditya Birla Group.
The biggest losers could be from retail space due to concerns over consumer sentiments impacting footfalls and same store sales.
Aditya Birla Nuvo to buy controlling stake in Pantaloons Stores; Biyani gets Rs 1,600-cr boost; deal to create the country's largest fashion retailer.
From the retail pack, Future Group firm Pantaloon Retail surged 32.61 per cent to Rs 209, while Provogue India gained 17.83 per cent to Rs 18.90 on the BSE.
At a function held in Mumbai, three beauties were crowned Miss India.
According to the agreement, Pantaloon Retail India, along with its wholly owned subsidiary Future Value Retail, would sell its stake in FCH.
Kishore Biyani's Future Group will hive off its electronics business into a separate company, as continued promotions and increased competition are taking a toll on its margins.
The finalists who will be competing in the Pantaloons Femina Miss India 2010 pageant were revealed on March 23 at a plush suburban Mumbai hotel. Watch them strut their stuff right here in this video!
Raheja-owned retailer Shoppers Stop has gone off the beaten track. At a time, when bigger players such as Pantaloon and Aditya Birla Retail are either shutting stores or looking at halting expansion to preserve cash and check losses, Shoppers Stop is moving ahead with its expansion plans.
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