INDIA: Reliance Retail posts 48% jump in H1 turnover
- Turnover up 48% to INR49.1bn
- "Strong" same-store sales growth
Turnover increased to INR49.1bn (US$929.2m) during the six months ended 30 September. The company said it witnessed "strong" growth through new store launches and same-store sales growth of between 5% and 25%.
Reliance Retail said a "unique shopping experience, high quality and affordable products" helped the company during the quarter.
The retailer said it continued to make more luxury labels available to Indian consumers during the period by teaming up with footwear brands Dune and Stuart Weitzman. Reliance also said new stores opened under the Hamleys, Steve Madden and Timberland brands.
Footwear and accessories maker Steve Madden has posted a 38% increase in fourth-quarter profit, helped by rising sales of merchandise under its namesake brand and a benefit related to the bankruptcy o...
Reliance Retail, the retail arm of industrial conglomerate Reliance Industries, has booked an increase in nine-month sales....
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