Spencer's

Spencer's Retail enters quick commerce space with JIFFY as growth driver

The new quick delivery proposition, JIFFY, will be a key growth driver for the business in the coming quarters, said Spencer's chairman, Shashwat Goenka

Spencer's Retail Q3FY25 results: Net loss narrows to Rs 47.3 crore

Spencer's Retail Ltd on Thursday reported narrowing of consolidated net loss to Rs 47.34 crore for the December quarter. The company posted net loss of Rs 51.20 crore in the October-December period a year ago, according to a regulatory filing from Spencer's Retail, a RP Sanjiv Goenka firm. However, its revenue from operations was down 20.9 per cent at Rs 516.97 crore during the quarter under review. It was at Rs 654.01 crore in the year-ago period. The company had a "soft festive quarter with respect to consumer spending," said Spencer's Retail in its investor presentation. Total expenses of Spencer's Retail was down 20.2 per cent to Rs 567.44 crore in the December quarter as against Rs 711.54 crore a year ago. Spencer's Retail's total income, which includes other income, was marginally down 21.23 per cent to Rs 520.03 crore in the December quarter. "Despite a soft festive trading environment wherein LFL sales growth was flat, Spencer's delivered a very strong operational perform

Retail sector slashes 26,000 jobs due to falling demand, expansion halt

The reduction was primarily driven due to Reliance, Titan, Raymond, Page, and Spencers, which cut 52,000 jobs, or 17% of their workforce

Spencer's Retail CEO and Managing Director Devendra Chawla resigns

Spencer's Retail Ltd on Friday said its CEO and Managing Director Devendra Chawla has resigned. In a regulatory filing, the company said Chawla has tendered his resignation from the position of CEO and Managing Director and also as a Director from the Board of the company with effect from January 20, 2023. Chawla joined the RP Sanjiv Goenka Group in 2019 as its chief executive officer and managing director for a three-year term. Earlier, he was the chief operating officer of Walmart India. Meanwhile, Eversource Capital-promoted shared electric mobility player GreenCell Mobility announced the appointment of Chawla as its new CEO and he will report to the company's board. Eversource Capital Vice Chairman - Everstone Group and CEO Dhanpal Jhaveri said Chawla's experience of successfully leading many customer-centric businesses will help GreenCell grow into India's leading green surface transport company. He has over 26 years of experience, holding various leadership positions, includ

Spencer's Retail Q3 loss narrows to Rs 27 cr; revenue down 7% at Rs 624 cr

RP-Sanjiv Goenka Group arm Spencer's Retail Ltd on Wednesday reported narrowing of its consolidated net loss to Rs 26.77 crore for the third quarter ended December 2021

The focus for Spencer's Retail is profitable growth: Shashwat Goenka

We want to ensure that the new stores we open become profitable from the first year itself and add to the bottomline, said Goenka

Amazon, BigBasket get approval for liquor delivery in West Bengal: Report

BevCo, the sole wholesaler of liquor in West Bengal, also invited two Kolkata-based companies -- Senrysa Technologies Pvt Ltd and Golden Goenka Commerce Pvt Ltd for the signing of agreements

Spencer's to propose ESOP in its first year of standalone ops in coming AGM

Each of the stock option, when exercised, will be converted into one share of the company

Spencer's Retail to buy Nature's Basket from Godrej Industries for $43 mn

This will give Spencer, a part of RP Sanjiv Goenka Group, access to western part of India.

Spencer's in talks with Amazon, other investors for minority stake sale

Spencer's is expected to be demerged from its mother company -- CESC Ltd -- shortly and this is when it will have to arrange for its own funds to keep its hold onto the retail space

Spencer's is ripe for listing: Sanjiv Goenka

For the last six months, Spencer's has been EBITDA positive