Spencer’s Retail

Spencer's Retail plans fundraising post breakeven to enhance valuation

RP Sanjiv Goenka group's retail chain, Spencer's Retail Ltd has signalled its intention to explore fundraising opportunities after achieving breakeven, aiming to enhance valuations and reduce debt, a company official said. The company has already taken board approval for future fundraising and will explore various options at the opportune time, he said. The promoters had in the past indicated that the management was open to induct new investors. "We are looking at a breakeven scenario before we really get into the bandwagon. And in the last 2-3 quarters, specifically, the focus from our board has been to achieve a breakeven, which is led by efficiency and productivity. And now, having demonstrated improved metrics in third quarter, which is a target range of 19.5 per cent gross margin with 13.5 per cent opex, resulting in store EBITDA of 6 per cent, which gives us a breakeven scenario now," the official said. "For us now, we believe that we'll be able to demonstrate this number, an

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

Spencer's Retail Q2 results: Net loss widens to Rs 87.18 cr on low demand

Spencer's Retail Ltd on Wednesday reported widening of its consolidated net loss to Rs 87.18 crore for the second quarter ended September 30, 2024 impacted by softer consumption and ramping down of operations in NCR region and South markets. The company had posted a net loss of Rs 70.12 crore in the July-September period a year ago, according to a regulatory filing from Spencer's Retail, a RP Sanjiv Goenka firm. Its revenue from operations was down 9.75 per cent at Rs 518.03 crore during the quarter under review. It was at Rs 574.04 crore in the year-ago period. The company witnessed "softer consumption due to heavy monsoon & a delay in consignment delivery which impacted the business growth, said Spencer Retail in its earnings statement. Total expenses of Spencer's Retail was up around 3 per cent to Rs 666.30 crore in the September quarter. However, Spencer's Retail total income, which includes other income, was marginally up to Rs 579.05 crore in the September ...

RPSG Group's Nature's Basket adds luxury food retailing to its cart

"We will take the concept beyond Mumbai and Kolkata to Delhi and Bengaluru as well," Goenka said

Succession planning: Shashwat Goenka to become chairman of Spencer's Retail

Spencer's on Monday reported a loss after tax of Rs 61.22 crore in Q4FY23 compared to a loss of Rs 42.47 crore in the year-ago period

Spencer's Retail net loss widens to Rs 61.22 cr in Jan-Mar quarter

RP-Sanjiv Goenka Group arm Spencer's Retail Ltd on Monday said its consolidated net loss widened to Rs 61.22 crore for the fourth quarter ended March 2023. The company had posted a net loss of Rs 42.47 crore in the January-March period a year ago, Spencer's Retail said in a regulatory filing. Its revenue from operations was marginally up at Rs 543.39 crore during the quarter under review against Rs 541.84 crore in the year-ago period. Spencer's Retail's total expenses were Rs 610.78 crore in the quarter. Its total income in the March quarter fell 2.7 per cent to Rs 549.45 crore. Spencer's operates 151 stores with a total trading area of 13.36 lakh square feet as of March 31, 2023. Over the business of Nature Basket, which it has acquired from Godrej Industries, Spencer's Retail said it has reported a standalone turnover of Rs 62 crore. Natures Basket operates 35 stores with a total trading area of 1.07 lakh square feet as of Mar 31, 2023. For the fiscal ended March 2023, Spence

Spencer's Retail appoints Anuj Singh as CEO, MD for three-year term

Industry veteran has more than two decades of leadership experience in organisations in India, West Asia, Europe

Spencer's Retail Q3 loss widens to Rs 61.75 cr, impacted by higher expenses

RP Sanjiv Goenka Group firm Spencer's Retail Ltd on Tuesday reported widening of consolidated loss after tax at Rs 61.75 crore for December quarter 2022-23, impacted by higher expenses. The company had posted a loss after tax of Rs 26.77 crore for the same quarter last fiscal year, Spencer's Retail said in a regulatory filing. Revenue from operations in the quarter under review stood at Rs 638.91 crore as compared to Rs 624.07 crore in the year-ago period, it added. Total expenses were higher at Rs 703.89 crore as compared to Rs 669.49 crore in the same quarter a year ago. Spencer's Retail Sector Head Shashwat Goenka said at a consolidated level the company's business has grown led by significant growth in the non-food business and also from the food business with sustained omni-channel presence. "Continuous investments in making our digital shopping experience seamless for our consumers have helped us sustain the growth in the omni channel business," he added. Spencer's Retail h

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 casts net wide to reel in value-conscious consumer

Hypermarket chain to focus on tier III, IV cities, launch to be held in phases

Spencer's Retail Q1 net loss widens to Rs 33.63 cr; revenue up 12.5%

The company had posted a net loss of Rs 23.55 crore in the April-June period a year ago, Spencer's Retail said in a regulatory filing.

Spencer's Retail sees net loss narrowing to Rs 34.53 cr in March qtr

Spencer's Retail said Nature's Basket has reported a standalone turnover of Rs 77 crore.

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

Spencer's Retail to raise Rs 80 crore rights in maiden rights issue

The maiden rights issue of Spencers Retail of Rs 80 crore to meet its working capital needs and other general purposes opened on Tuesday.

With an eye on growth, Spencer's works on Natures Basket turnaround

Spencer's acquired a 100% stake in Natures Basket from the Godrej group in a Rs 300 crore deal last July

Spencer's Retail posts Rs 49.45 crore pre-tax loss in March quarter

It had earned a revenue of Rs 523.46 crore during the similar quarter of the 2018-19 financial year year with a pre-tax profit of Rs 1.22 crore.

People have reduced buying frenzy: Spencer's Retail's Shashwat Goenka

Supply chain for essential items has been ensured in the country, says Shashwat Goenka, sector head for FMCG & Retail at Spencer's Retail.

Spencer's Retail surges 18% as RK Damani picks up 2% stake in Dec quarter

Radhakishan S Damani acquired 1.66 million equity shares, or 2.09 per cent stake, in the company during the recently concluded quarter.

After acquisition, RPSG aims to make Nature's Basket profitable in 2 years

Loss-making stores to be shut down, even as Spencer's plans to take Nature's Basket footprint to new markets