Fashion boosts Reliance Retail Q3
- Q3 EBIT INR1.33bn, up from INR380m
- Revenues rise 18.9% to INR46.86bn
- Like-for-like growth 19%
Strong growth in the fashion and lifestyle sector helped India’s Reliance Retail to boost earnings and revenues in the third quarter, accelerating the growth seen in the previous three-month period.
The company said it had continued its growth momentum “despite [a] challenging macroeconomic environment”, adding 279 stores during the quarter at a rate of more than three a day. Fashion and lifestyle, it added, had witnessed strong growth, with Reliance Trends now operating stores in more than 100 cities.
The company had also grown its presence through partnerships with Marks & Spencer and others, and had concluded a distribution deal for Juicy Couture in India.
Reliance Retail, the retail arm of industrial conglomerate Reliance Industries, continued its growth momentum in the third quarter, achieving what it says are "significant milestones". ...
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