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| Spencer's aims Rs 1,150 cr turnover in FY11 |
| Press Trust of India / Kolkata Apr 29, 2010, 17:36 IST |
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RPG group company Spencer's retail, a subsidiary of CESC Ltd, today said it was aiming at a topline of Rs 1,150 crore in the current fiscal and adding another two lakh square feet of retail space.
"We will add some two lakh square feet and are targeting a turnover of Rs 1,150 crore in the current fiscal," CESC vice-chairman Sanjiv Goenka said.
Spencer's had closed some 20-25 stores in the last fiscal owing to slowdown, but this year the company was optimistic of adding new space.
The firm has now 226 stores occupying about 10 lakh square feet under Spencer's brand, out of total 280 retail stores under various brands, including Music World. Goenka said per square feet sales of Spencer's had increased to Rs 825 from Rs 660 last year.
When asked about placing fresh equity with some PE funds, which was long pending, Goenka said the company was negotiating with few clauses of the terms with the shortlisted funds, and at this point of time, he was unable to say how far or how close they were from striking a deal.
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