Page 5 - Sales

SoftBank-backed Meesho records nearly 68% jump in festival sales

Customers placed a record of about 33.4 million orders during the mega sale with nearly 60 per cent of all orders coming from tier 4+ cities.

Reliance Retail's JioMart begins a month-long festival season sale

JioMart will host two sales during this time- Tyohaar Ready Sale and the Bestival Sale

Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC

Former RBI Deputy Governor R Gandhi appointed as Yes Bank's non-executive chairman

E-registration of property promises freedom from long queues, touts

However, the procedure is currently limited only to primary sales in Maharashtra

Shopping mall sales in top-8 cities to hit $39 bn by FY28: Knight Frank

The high revenue growth has largely been predicted due to increasing mall supply in next six years, sustenance of rising consumption demand

12% of Apple's iPhones sold worldwide could be India-made by FY26

Vendors' minimum commitment of FoB value for incremental production under PLI will be the decider

Nikon India hopes Rs 1,000 cr revenue by FY24 amid robust sales recovery

Imaging products major Nikon India is expecting to clock a revenue of Rs 900 crore this fiscal, riding on a robust sales recovery with the waning COVID-19 pandemic, a company official said. It is hoping to cross the Rs 1,000-crore sales mark by the 2023-24 financial year (FY24), he said. In a bid to retain festive months' sales buoyant, the company has not hiked prices of its products despite pressure on margin and supply chain with rising costs, Nikon India managing director Sajjan Kumar said. The festive season spreading from Onam to Diwali contributes 32-35 per cent of its total annual revenue, he said. "With the robust recovery, we are going to surpass the pre-COVID level sales this year. We expect Rs 900 crore turnover in FY'23 and will exceed the Rs 1,000-crore mark in FY'24," Kumar said in an interview. The camera market is estimated at Rs 3,000 crore per annum, he said, adding that products for social media content creators and professionals are the growth drivers. The pr

Tencent fires 5,500 workers as sales down for first time since going public

Chinese conglomerate Tencent has fired 5,500 employees, after posting a revenue of $19.8 billion in the June quarter, down 3 per cent which is the first decline since going public.

Retail sector reports healthy over pre-pandemic level growth: RAI

Retail businesses across India continued to post healthy growth over pre-pandemic levels, registering an 18 per cent rise in July sales compared to the same month in 2019, Retailers Association of India said on Wednesday. As per the latest business survey by Retailers Association of India (RAI), the East India region saw the highest year-on-year growth of 25 per cent last month, followed by the south at 21 per cent, north at 16 per cent and west at 10 per cent. In terms of categories, sports goods clocked the highest growth rate with a 32 per cent increase over July 2019, followed by footwear and furniture & furnishing at 23 per cent each. Apparel and clothing registered a 22 per cent rise, while quick service restaurants, consumer durables and electronics footwear posted a growth of 17 per cent, according to the survey. The jewellery category grew by 15 per cent in July this year compared to the same month in 2019, while food and grocery rose 11 per cent. Beauty, wellness and ...

Walmart expects smaller profit drop in 2022 as discounts drive demand

The retailer spooked markets across the globe last month when it slashed its profit forecast and warned that consumers were pulling back on discretionary purchases at a far greater pace than feared

Raymond posts Q1 net profit at Rs 82 crore helped by an increase in sales

Its revenue from operations was at Rs 1,728.14 crore, up two-fold, in comparison with a lower base of the pandemic-impacted corresponding quarter.

PwC India completes acquisition of Salesforce consulting firm Venerate

Venerate, which was founded in 2016 in Bangalore, builds customised solutions on the Salesforce platform across multiple clouds. The solutions help organisations in managing customers and sales

Adani Wilmar's Q1 net profit rises 10% to Rs 194 cr on higher sales

Angshu Mallick, Managing Director and CEO, Adani Wilmar, said the company has continued to demonstrate a steady growth in overall volumes, led by the foods business.

PwC India completes acquisition of Venerate Solutions Private Ltd

Venerate builds and deploys customised solutions on the Salesforce platform across multiple clouds including financial services cloud, salesforce marketing cloud, etc

Sun Pharma Q1 net up 43% to Rs 2,061 crore on specialty sales, India biz

Gross sales up 10.1% YoY to Rs 10,644 cr; EBITDA at Rs 2,884.4 cr, with a margin of 26.8%

Metro AG: In deal season, German cash & carry chain feels the heat in India

The low-profile German cash & carry chain is suddenly finding itself at the centre of controversy as negotiations for the sale of its India business get underway

Our cost of funds is the lowest in the industry: Mintifi CEO Anup Agarwal

In a Q&A, Minitifi's co-founder and CEO Anup Agarwal talks about how it has enabled distributors and retailers to increase sales

e-con Systems opens new site in Bengaluru, eyes $10 million funding

e-con Systems plans to ramp up employee base by 50%, with focus on salesforce and R&D personnel

Godrej Consumer eyes double-digit domestic sales growth in Q1 of FY23

The firm, however, expects a mid-single-digit volume drop on a high base in the quarter

Export levy impact: Tata Steel deliveries drop 2% YoY despite higher output

Tata Steel said domestic despatches were up 5% YoY, leveraging a strong marketing network and an agile business model