Spencer’s Retail

Industry veteran has more than two decades of leadership experience in organisations in India, West Asia, Europe

RP Sanjiv Goenka Group firm Spencer's Retail Ltd on Tuesday reported widening of consolidated loss after tax at Rs 61.75 crore for December quarter 2022-23, impacted by higher expenses. The company had posted a loss after tax of Rs 26.77 crore for the same quarter last fiscal year, Spencer's Retail said in a regulatory filing. Revenue from operations in the quarter under review stood at Rs 638.91 crore as compared to Rs 624.07 crore in the year-ago period, it added. Total expenses were higher at Rs 703.89 crore as compared to Rs 669.49 crore in the same quarter a year ago. Spencer's Retail Sector Head Shashwat Goenka said at a consolidated level the company's business has grown led by significant growth in the non-food business and also from the food business with sustained omni-channel presence. "Continuous investments in making our digital shopping experience seamless for our consumers have helped us sustain the growth in the omni channel business," he added. Spencer's Retail h

Spencer's Retail Ltd on Friday said its CEO and Managing Director Devendra Chawla has resigned. In a regulatory filing, the company said Chawla has tendered his resignation from the position of CEO and Managing Director and also as a Director from the Board of the company with effect from January 20, 2023. Chawla joined the RP Sanjiv Goenka Group in 2019 as its chief executive officer and managing director for a three-year term. Earlier, he was the chief operating officer of Walmart India. Meanwhile, Eversource Capital-promoted shared electric mobility player GreenCell Mobility announced the appointment of Chawla as its new CEO and he will report to the company's board. Eversource Capital Vice Chairman - Everstone Group and CEO Dhanpal Jhaveri said Chawla's experience of successfully leading many customer-centric businesses will help GreenCell grow into India's leading green surface transport company. He has over 26 years of experience, holding various leadership positions, includ

Hypermarket chain to focus on tier III, IV cities, launch to be held in phases

The company had posted a net loss of Rs 23.55 crore in the April-June period a year ago, Spencer's Retail said in a regulatory filing.

Spencer's Retail said Nature's Basket has reported a standalone turnover of Rs 77 crore.

We want to ensure that the new stores we open become profitable from the first year itself and add to the bottomline, said Goenka

The maiden rights issue of Spencers Retail of Rs 80 crore to meet its working capital needs and other general purposes opened on Tuesday.

Spencer's acquired a 100% stake in Natures Basket from the Godrej group in a Rs 300 crore deal last July

It had earned a revenue of Rs 523.46 crore during the similar quarter of the 2018-19 financial year year with a pre-tax profit of Rs 1.22 crore.

Supply chain for essential items has been ensured in the country, says Shashwat Goenka, sector head for FMCG & Retail at Spencer's Retail.

Radhakishan S Damani acquired 1.66 million equity shares, or 2.09 per cent stake, in the company during the recently concluded quarter.

Loss-making stores to be shut down, even as Spencer's plans to take Nature's Basket footprint to new markets

The move marks the RP-Sanjiv Goenka Group firm's second attempt to establish a toehold in the country's western region

Group chairman says progress is perceptible

Retailer shows improved figures in five years with expansion of large format stores and their rationalisation