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Spencer’s Retail expands capacity with new stores and acquisitions

Spencer’s Retail is expanding its capacity by setting up new stores besides working on the integration process for the acquisition of Nature’s Basket, which lays the foundation for the brand’s future scalability. For the second quarter ending September 30, 2019, Spencer’s Retail reported 8 per cent growth in its revenue from operation at Rs 611.83 crore . The Kolkata-based retail chain, however, reported a net loss of Rs 15.62 crore during the period under review as compared to a net profit of Rs 1.47 crore in the same period last year.

Spencer’s performance is in line with other consumer goods makers who too have reported muted growth due to on-going slowdown in consumption. Consumer goods makers and retailers, however, have posted higher growth in profit during the July-September quarter due to cut in corporate tax rates.

At a consolidated level -- including the performance of two wholly-owned subsidiaries, Omnipresent Retail India and recently acquired Nature’s Basket– Spencer’s Retail posted a 23.5 per cent growth in revenue from operations at Rs 699.48 crore for the September quarter.

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