Future Group shares surge up to 12 pc on expansion plans

Shares of Future Group companies rallied up to 12 per cent today as the leading retail chain plans to open 10,000 member-only Easyday stores to make it a Rs 1.5-trillion business opportunity by 2022.
The scrip of Future Retail surged 11.68 per cent, Future Lifestyle Fashions zoomed 7.08 per cent, Future Enterprises went up by 3.38 per cent and Future Consumer gained 3 per cent on BSE.
The retail chain yesterday unveiled a 30-year vision, Retail 3.0, a strategy aimed at becoming Asia's largest integrated consumer retailer by 2047.
Future Group chief executive Kishore Biyani said by the end of the current fiscal, the group will have 1,100 Easyday stores from the present 700. Each such store will have an investment of around Rs 15 lakh, he added.