ET Intelligence Group: Things seem to
have started falling in place for Kishore Biyani owned Future Retail BSE 13.47 %
as the company is expected to report a gradual turnaround in its performance
after a series of dismal performance in the past few years. Earnings for the
December quarter grew 37% compared with the September quarter, driven by higher
footfalls -12.5% same store sales growth (SSG). This beat analysts'
expectations causing its stock to gain 17% after the results announcement on
Tue ..
The company expects this momentum to
continue. Overall sales will be further boosted by addition of stores and
consolidation of retail stores of Heritage Foods.“We expect our sales to grow
by 20% an retailer. For FRL, SSG was 12.5% and for Big Bazaar, it was even
higher at 15.5%, which is a large format store
Through the acquisition of Easy day ,
Heritage Retail and Nilgiri BSE 0.00 %, the company intends to create a
neighbourhood store concept. By end of FY18, FRL will have “We expect our sales
to grow nually,“ said the company spokesperson.
Future Retail's financials cannot be compared
yearon-year as the current fiscal numbers include f cal numbers include figures
of Easy day , a small format retail chain it acquired last year and merged only
in the beginning of the current fiscal.This makes SSG an important parameter in
evaluating the performance of a aar stores and over 750 neigh bour hood stores.
Given smaller area, Easy day earns `25,500 in revenue per square feet, as much
as DMart. For Big Bazaar, it is `13,500. With increasing s ..
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