INDIA: Reliance Retail FY sales up 34%
India’s Reliance Retail posted a 34% revenue rise in the year to 31 March, boosted by the opening of more than 200 new stores and robust like-for-like sales growth.
The company said a “strong performance” from its fashion and lifestyle sector had helped lift full-year revenues to INR144.96bn, with like-for-like sales rising by as much as 23% and pre-tax profit reaching INR3.63bn.
Meanwhile, Reliance’s joint venture with UK fashion retailer Marks & Spencer had enjoyed record sales and robust growth, the company said.
Reliance Retail fourth quarter revenues rose 19% to INR36.39bn, with Reliance Industries chairman and MD Mukesh Ambani hailing the turnaround in the business, which is now India’s leading retailer.
During the year, Reliance opened 225 new stores, bringing its total portfolio to 1,691 outlets in 146 cities.
Some 190 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people last yea...
Reliance Industries Limited (RELIANCE) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been ...
Having posted strong growth from its sales of packaged food throughout the economic recession, Marks & Spencer’s performance towards the end of the review period was hampered by the poor performance o...
Jigsaw product director Barbara Horspool has left the UK fashion retailer after two years in the role to join clothing and homeware retailer The White Company....
Over the forecast period, Marks & Spencer (Asia Pacific) Ltd will continue to monitor and review efficiency in supply chain and other operations in order to reduce cost. The company will also continue...
Industrial conglomerate Reliance Industries has joined forces with Shandong Ruyi Science and Technology Group Co. to form a joint venture in textiles....
Marks & Spencer Plc offers a wide range of quality products at prices ranging from economy to high mid-range. It is one of the longest established British high street stores and sells clothing, food a...
- 2014: Year in review - Sourcing winners and losers
- COMMENT: The decline of the buying office
- 2014: Year in review - Brand winners and losers
- 2014: Year in review - Retail winners and losers
- Bangladesh: Raising the bar on apparel exports?
- Report urges overhaul of Cambodia factory safety
- Bangladesh knitting worker killed by faulty lift
- Bangladesh factory improvements “will take years”
- North Face debuts locally-grown "backyard" hoodie
- Tommy Hilfiger launches solar-powered jacket