India-based multi-format retailer Spencer’s Retail Limited (SRL) is all set to launch a whole new apparel section next week as the company feels that apparel contributes much higher margin than foods. This was announced by an official of the company.
Headquartered in Kolkata, the retailer is taking all measures to improve its performance. The retailer posted average revenue per square ft. per month at Rs. 1,740 in the 2016 December quarter from Rs. 1,452 during last fiscal. “Rs. 1,740 per square ft. revenue is way highest in the industry. We hope that it will be a continuing sign and are very optimistic about the performance of the company as we go forward,” Group’s Chairman Sanjiv Goenka was quoted as saying.
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The retailer having presence in over 35 cities in India hopes to become PAT (profit after tax) positive by next fiscal year.
