Kishore Biyani’s Pantaloon Retail maintained its same-store sales in June, as revival in consumer demand helped the country’s largest retailer to post positive numbers.
Pantaloon posted 8.07 per cent and 8.19 per cent growth in same-store sales (of stores that have been operating for more than a year) in value and lifestyle segments, respectively, in June. However, its same-store growth in home retailing dipped 34.36 per cent in June, reflecting the problems in home retailing.
In May, there was 8 per cent growth in same-store sales in value and lifestyle segments, while home retailing saw a fall of 28 per cent. “Though the June growth is marginal, it is significant in the current market conditions. Customers are coming back to stores,” said an analyst with a multinational brokerage.
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