Senior Correspondent, IndianRetailer.com & Retailer Magazine Nov 05, 2013 / 2 MIN READ
Future Retail Ltd reported net loss at Rs 8 crore for the third quarter ended September 30, 2013. The company registered the net profit of Rs 66 crore in the same quarter last year.
The financial numbers are not comparable with September 2012 quarter due to the demerger of the company’s lifestyle fashion businesses that included Central, Brand Factory, Pantaloons, among others, the company said in a statement.
During the quarter, Future Retail’s net sales stood at Rs 2,263 crore, the company said in a BSE filing. Net sales in the same period last year were at Rs 3,021 crore.
Future Retail demerged its fashion business in November 2012 and formed a new company called Future Lifestyle Fashions (FLFL). FLFL has a portfolio of over two dozen fashion and lifestyle brands.
Unveiling India's Retail Revolution: Tech Disruptions, Consumer Shifts, and the Future of E-CommerceGiven this divergence, industry projections indicate Tier II and III cities will continue dramatically outpacing their Tier I counterparts in online order growth rates over the next decade.
During Mumbai Tech Week, Chandok also emphasized that those who do not embrace AI, risk falling behind in the rapidly evolving technological landscape.
In the dynamic arena of retail, departmental stores stand tall as monuments of progress, convenience, and diverse offerings.
But the winds began to shift in the mid-2010s. Mounting debt, fueled by ambitious expansion plans and a competitive landscape increasingly dominated by e-commerce players like Amazon and Flipkart, put immense pressure on Future Retail.
Copyright © 2009 - 2024 Franchise India Holdings Ltd