24 July 2024, Mumbai
The Q1, FY25 net loss of Spencer’s Retail narrowed to Rs 43 crore ($5.2 million) from Rs 64 crore in the same quarter last year.
The company's total income decreased by 1 per cent to Rs 576 crore from Rs 582 crore in the corresponding period of the previous fiscal year.
ShashwatGoenka, Chairman, Spencer’s Retail, says, the company continues to focus on improving profitability and key metrics like margin, operating costs, and driving omni-channel growth. It targets profitability by scaling down operations in the South and NCR. This allows the business to expand in its core and pursue higher growth opportunities in the East and North.
A part of the RP-SanjivGoenka Group, Spencer’s Retail is a multi-format retailer offering a wide range of products across categories such as fashion, general merchandise, personal care, and home essentials.
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