INDIA: Reliance Retail Q3 turnover jumps 38%
Reliance Retail, the retail arm of industrial conglomerate Reliance Industries, has recorded a 38% jump in third-quarter turnover, helped by an "accelerated performance" from its fashion and lifestyle business.
Turnover reached INR39.27bn (US$637.6m) during the third quarter to the end of December, compared to INR28.39bn in the same period of the previous year. The business recorded a like-for-like sales growth of up to 21% across various store formats.
The company's fashion and lifestyle sector delivered an "accelerated performance" during the quarter. Its joint venture with Marks & Spencer continued to grow by opening its largest standalone flagship store in India.
For the nine months to December, Reliance Retail's turnover reached INR108.57bn, up 40% on INR77.49bn in the prior year.
The company operates 1,577 stores across 141 cities in India.
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...
Department stores remained the only mixed retailers format present in India at the end of the review period. Other mixed retailers categories such as mass merchandisers, variety stores and warehouse c...
More than 200 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 in ...
Internet retailing continued to expand rapidly in the UK in 2013 as sales made from tablets and smartphones drove much of this growth. Multichannel retailing has become a central plank of the overall ...
The UK’s department stores are investing in the modernisation of their outlets with the aim of making them more attractive to consumers and incorporate aspects of multichannel retailing more effective...
- Yuan devaluation impact mixed for garment firms
- Will Vietnam struggle with impending trade deals?
- The new age of disruption on apparel production
- China devaluation: what’s the big deal?
- Gap bullish on China growth opportunities
- US Q2 in brief: Guess, PVH, Abercrombie & Fitch
- Gap restructuring weighs on Q2 as profit falls 34%
- Luen Thai to continue investment in Vietnam
- Ralph Lauren debuts biometic smart shirt
- China market woes could hit consumer spending
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Ethiopia – the emerging textile and clothing industry
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Global market review of lingerie - forecasts to 2020
- Global market review of swimwear - forecasts to 2019