Retail cos, QSRs expand at slowest pace in 5 years
Retailers and quick-service restaurant chains in India experienced the slowest pace of store expansion in five years at 9%, with 33,219 stores as of March 31. In FY23, the number was 30,551, up 18% from the previous year. These companies added 2,700 stores, averaging 7 a day, but that's nearly half compared to 13 doors each day in FY23. Retail sales growth rate fell year-on-year every month in the previous fiscal, reflecting weak consumer sentiment across segments like apparel, footwear, and QSR. Key Points
Economic TimesJubilant Foods expects Rs 1,000 crore business from Popeyes
Jubilant Foods Ltd (JFL) CEO and MD Sameer Khetarpal revealed that the company expects its fried chicken brand Popeyes to surpass Rs 1,000 crore in sales within the next 3-4 years. Additionally, JFL, the master franchisor of Domino's, aims to expand its outlets to around 3,000 in the medium term. Khetarpal highlighted the rapid expansion of QSR brands, especially Domino's, due to India's growing economy and urbanization. Key Points
Economic TimesAirtel launches 14 stores in Pune
New Delhi, Jan 29 (PTI) Bharti Airtel on Monday said it has launched 14 next-gen company-owned stores in Pune, which will be a one-stop-shop for all its offerings. In a release, the company said the stores will display the entire range of Airtel’s offerings, including Xstream, Xsafe, and 5G Plus. The store staff, referred to […] Key Points
ThePrintBharat brand of products: Franchise route for govt retail stores on the cards
Last month the government opened its first two stores at Delhi's Rajiv Chowk metro station, to tap into the high footfall it receives. These are owned by the National Cooperative Consumers' Federation of India (NCCF), which procures agricultural commodities like food grains, pulses, spices, oil seeds, onions and other consumer goods on behalf of the government and sells to consumers at reasonable rates. Key Points
Economic TimesPushing behind Walmart and Costco, THIS company emerged as most popular grocery store in US
In the Retailer Preference Index survey, Amazon came in second place in the ranking, with Costco close behind in third. Other stores in the top 10 list include Market Basket, Sam's Club, Wegman's, Aldi, Shoprite, Walmart Neighborhood Market, and Walmart. Who emerged as the most popular grocery store in the US? Key Points
Economic Times
Brand 'Jaipur Kurti' Ties up with Franchise India, Pioneering a New Chapter in India's Fashion Evolution
Jaipur (Rajasthan) [India], January 10: Nandani Creation Ltd (NCL) (NSE: JAIPURKURT), a leading player in women's Indian wear, proudly announces a groundbreaking partnership with Franchise India, signalling a momentous stride in its expansion endeavours. This collaboration aims to introduce 75 new 'Jaipur Kurti' franchise stores under brand 'Jaipur Kurti', 'Amaiva' and our Luxury brand 'Jaipur Kurti Luxe' across six states by 2027, providing fashion enthusiasts nationwide with access to the brand's exquisite collections. Key Points
Hindustan TimesRPSG Group confident of making consumer biz vertical profitable: V-C
These stores, set up over 8,000-12,000 square feet as compared to the usual 2,000-3,000 sq ft for Nature's Basket, will not only generate more revenues but add 1-2 percentage points to gross margins. The first Nature's Basket Artisan Pantry store opened last weekend in Mumbai's Palladium Mall. He also said a second store will open in Mumbai while Kolkata will get its first store by next month, and 3-5 stores next fiscal including in the National Capital Region and Bengaluru. Key Points
Economic TimesBlack Friday deals: Know which stores will open and their timings for your ultimate shopping experience
Black Friday in the United States is considered the beginning of the Christmas shopping season. This also brings in competition among the retailers and big stores that attract customers with big deals and discounts. Key Points
Economic TimesCVS and Walgreens say pharmacist work action had minimal impact
CVS Health Corp (CVS.N) and Walgreens Boots Alliance (WBA.O) on Wednesday said that a work action by some U.S. pharmacists this week had minimal impact on operations, with most stores remaining open. Key Points
ReutersJubilant FoodWorks Q2 Results: Profit slides 39% YoY to Rs 72 crore, misses estimate
Jubilant FoodWorks Q2 profit after tax (PAT) margin declined by 38 bps sequentially to 5.4% while its EBITDA margin came in at 20.9%, lower by 23 bps sequentially. During the quarter, the pizza seller reported a 4.5% YoY rise in its revenue from operations to Rs 1,344.8 crore as compared to Rs 1,286.8 crore in the year-ago period. Key Points
Economic Times
Stocks in news: Titan, RIL, Puravankara, Bank of Baroda, Biocon
Titan Co has clocked 20% year-on-year growth in its revenues for the second quarter ended September 2023. A total of 81 stores were added in this period, taking the groups retail presence to 2,859 stores. Key Points
Economic TimesDMart has to add greater number of stores to grow faster, says CEO Neville Noronha
Avenue Supermarts first-quarter profit rose marginally but missed estimates, even as the profit margins shrunk owing to higher costs and weak demand in the discretionary category. “Overall gross margins are lower compared to same period in the previous year, primarily due to lower sales contribution of apparel and general merchandise,” said Noronha. Key Points
Economic TimesApple stores in Mumbai and Delhi earn 50 crore a month via sales, higher than other electronics stores
The newly launched Apple stores in Mumbai and Delhi are each earning 22-25 crore a month via the sales. This basically means that Apple is making a total of 44-50 crores per month, which is huge. Key Points
India TodayCitykart to invest around Rs 200- 300 crore to open 300 stores in 3 years, says Sudhanshu Agarwal | INTERVIEW
“We are currently running 92 Citykart stores spread across 76 cities and 7 states. Citykart team is all geared up to expand its footprint further by adding more stores and take the total count of stores to 300 in the next 3 years,” Sudhanshu Agarwal said. Key Points
FinancialexpressDMart Q4 Results: Net profit rises 8% YoY to Rs 505 crore; misses estimates
Avenue Supermarts, the company that operates the DMart chain of stores, posted a 21.11% YoY jump in revenue to Rs 10,337.12 crore. DMart's margins declined, said CEO and MD Neville Noronha. Lower consumer spending in general merchandise and apparel continues and has impacted the margin mix downwards, he added. E-commerce expansion continued in the firm's existing 22 cities and expanded to an additional 10 new locations during the year, totalling 324 stores. Key Points
Economic Times
‘Force IX to open over 200 stores in India’
Bollywood star Akshay Kumar said he only invests in businesses where he has a personal connection, as he opened his first exclusive store for his apparel brand, Force IX, in Mumbai. The brand is set to open nine more stores this year and aims to have over 200 across India in the next few years. Kumar declined to comment on the amount of investment but said the brand was "very close to his heart". Key Points
mintMom-and-Pop Store Day: Why kiranas will survive the corporate blitz
In India, mom-and-pop stores are typically neighbourhood grocery stores. Apart from being social connectors for the local community, they also serve as an informal credit source, especially in rural areas. Customers can buy on credit on a weekly or monthly basis. Key Points
Economic TimesChristmas Eve Grocery Shopping: Which stores will be open and their operating hours
Grocery stores will be open on Christmas Eve, some may operate for reduced hours. These include Walmart, Publix, Costco, Kroger and others. Key Points
Economic TimesChristmas 2023: Are Walmart and Target open? Here’s what’s open and closed on Christmas Eve and Christmas
As the holiday season unfolds, the hustle and bustle reach a peak with last-minute errands for Christmas gatherings. Whether it's a forgotten side dish, additional drinks, or replacement entrees, a quick trip to the store might be necessary. Key Points
Economic TimesUS labor agency sues Starbucks over treatment of Seattle workers
Starbucks has recently had strained relations with some employees, including last month when workers at dozens of U.S. stores went on strike to protest managers' decisions not to let them hang rainbow flags and other Pride month decor. Key Points
Business Today
Apple's India stores bear fruit, post sales record
Apple's two own stores in India have grossed monthly sales of over ₹22-25 crore each, well over two times what could be the highest revenue for an electronics store in the country during non-Diwali period. However, given that Indian consumers are price-sensitive, it will be interesting to see how much longer the two stores can sustain their dominance. Key Points
Economic TimesTitan Q3 Update: Company sees 22% revenue growth on strong all-round show
Titan added a total of 90 stores during the quarter, taking the group's total presence to 2,949 stores. At the end of the September quarter, Titan had 2,859 stores. Key Points
Economic TimesRite Aid lays out plan to close 154 stores initially as it seeks bankruptcy protection
Rite Aid, the drugstore chain currently going through Chapter 11 bankruptcy, plans to close about 7% of its stores. The company has submitted a list of 154 stores in a court filing, with most of them located on the East and West coasts. The list includes stores in New York, New Jersey, Pennsylvania, California, Washington, Michigan, and Ohio. Rite Aid has more than 2,200 locations in 17 states and reported a loss of $1.3 billion in the first half of its fiscal year. Key Points
Economic TimesTitan Q1 Update: All-round performance drives 20% YoY growth in revenue
“Buyer growth was higher than average ticket size growth for this period. Despite significant volatility in gold prices throughout the quarter, Akshaya Tritiya sales in April and wedding purchases in June were robust,” the company said in a release. Key Points
Economic TimesApple likely to open 3 more exclusive stores in India: Check out locations, launch timeline, and other details
Apple will launch 3 more exclusive offline stores at different locations in India. The tech giant is currently in talks to open its third store in Borivali, which is a suburb of Mumbai. But, this one will arrive in 2025. Key Points
India Today
Just looking like a Wow! Momo chain raises Rs 350 crore
Wow! Momo Foods has secured ₹350 crore in funding from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. This investment, the company's largest to date, is attributed to robust double-digit growth in the overall food services sector and the popularity of momos as a snack in India. The funding will be used for brand growth and expansion, distribution strengthening, and research and development for the FMCG arm. Key Points
Economic TimesUPI surges on broad-based usage and deeper penetration
The Reserve Bank has higher transaction limit for financial services like for AMC, Broking, Mutual Funds, collections (Credit card payments, Loan re-payments, EMI), Insurance etc. where the transaction limit is `2 lakh. Insurance policy purchases and premium collections surged by 150% in transaction volume and 140% in new customer adoption, underlining the role of digital retail stores in addressing the challenges of insurance Key Points
Economic TimesHow dark stores are powering quick commerce's rise
At the heart of the ‘quick behind this new form of commerce are these micro warehouses that have mushroomed all over urban commercial centres. Operated by players such as Zomatos Blinkit, Zepto, Swiggy Instamart and Bigbaskets BB Now, they house a limited number of high-frequency use products. Key Points
Economic TimesMcDonald's stores shut in Sri Lanka over poor hygiene case
McDonald's stores in Sri Lanka have closed due to a legal battle with the local franchise holder over hygiene allegations. The Commercial High Court of Colombo ordered the closures until April 4, following the parent company's accusation of failing to meet international hygiene standards. The hearing is scheduled for early April. Key Points
Economic TimesWhen online goes offline: Why brick-and-mortar is back in fashion
India's new digital payment infrastructure and deeper internet penetration triggered a wave of e-commerce, but brick-and-mortar retail is making a comeback. Direct-to-consumer brands are opening physical stores. Retail leasing is at a record high. Growth in online users has slowed. Retailers are expanding stores to enhance the shopping experience. Key Points
Economic Times
Samsung inaugurates premium experience stores in Ahmedabad and Lucknow
Samsung India has opened two new Premium Experience stores in Ahmedabad and Lucknow. The stores will showcase Samsung's entire product range and offer workshops, entertainment activities, and special deals for consumers. Key Points
mintAditya Birla Fashion posts Q4FY23 loss at Rs 186.94 crore due to sluggish sales, revenue up 26.1%
ABFRL posted revenue from operations at Rs 2,879.73 crore, up 26.1 per cent from Rs 2,282.83 crore in the same quarter last year. Key Points
FinancialexpressRetailers go easy on expansion as slowing consumption bites
India's top retailers, including Reliance Retail, Titan Company, Avenue Supermarts, V-Mart Retail, and Shoppers Stop, have slowed down their store expansion this fiscal year. The slowdown is attributed to a focus on profitability and a saturated market with limited room for new outlets. Jefferies reported that Reliance Retail has reduced retail business capex and store additions have decreased. Key Points
Economic TimesWalgreens to close nearly all pharmacies on Thanksgiving for first time
Walgreens Boots Alliance (WBA.O) will close nearly all of its stores and pharmacies on Thanksgiving Day for the first time in the chain's history to give staff "time with their loved ones", the company said on Thursday. Key Points
ReutersBeauty gets back offline as cosmetic companies rethink digital strategy
As the threat of Covid subsides, beauty and cosmetic companies are making a beeline for offline again. It’s the touch-and-feel aspect that is driving offline growth, point analysts. Key Points
The Indian Express
FTC Sues to Block Kroger’s $24.6 Billion Albertsons Deal
The US Federal Trade Commission, eight states and Washington DC sued to block Kroger Co.’s $24.6 billion acquisition of Albertsons Cos. Monday, arguing the tie-up would lead to lower wages for workers and higher prices for groceries. Key Points
mintJubilant FoodWorks’ Q3 profit slips 18%
Jubilant FoodWorks Ltd's Ebitda for the quarter was ₹280 crore, a decrease of 2.2%. The company reported sustained growth in delivery, highest ticket in nine quarters, and cost optimization for investments behind category development. Key Points
mintFried chicken brand Popeyes plans to open 250 stores across India in 5 years
The approach at Popeyes, of concentrating in the southern belt, is similar to what its direct competitor in India and globally – KFC – did during its initial years around mid- and late 90s. At present, KFC has around 38 stores in Bengaluru. Key Points
FinancialexpressBlinkit stores have resumed operations after delivery partners' strike, says Zomato
Zomato, in a regulatory filing, has said that Blinkit stores have now resumed operations. It was recently reported that many Blinkit stores were temporarily out of service after delivery partners protested against change in their pay structure. Key Points
India TodayMadame aims for 27% revenue jump in FY24 to reach Rs 470 crore, says Akhil Jain
In order to fuel its future growth plans, Madame is focusing on expanding its retail presence in the South and West regions of the country. In the fiscal year 2023-24, it plans to add approximately 12 stores across eight cities in these regions. Key Points
Financialexpress
No big impact felt at shopping malls; brands report wedding season lift
People have time till September to use the money, and that is the reason there is no rush this time. The business had started picking up from last week due to the wedding season and we believe that will continue, said a leading mall operator who did not wish to be identified. Key Points
Economic TimesReliance Retail, WH Smith, Gordon Brothers-led consortium among 49 that submit EoIs for Future Retail
The company owns large and small format stores under the Big Bazaar Brand. The company also has a 100% subsidiary which runs nearly 100 stores under the WH Smith brand. The shares of the subsidiary could be available for a buyer to purchase. The company also owns the Foodhall brand of stores though the stores under the brand number under ten currently. Key Points
Economic Times'Philly is fallen': Masked teens loot US Apple store, check video inside
By midnight on Wednesday morning, law enforcement had confirmed that the police had arrested 15 to 20 individuals for the looting, Fox News reported. Videos viral on the internet show stores being overrun by masked teens. Looted Apple Store show iPhones and iPads scattered across display tables. However, many of the stolen Apple products were eventually abandoned due to their anti-theft features. Key Points
Economic TimesApple to open 3 more retail stores in India by 2027: Report
Of these, 2 will come up in Mumbai, and the third in Delhi. In April, the tech giant opened it first 2 exclusive outlets for India, also in Mumbai and Delhi. Key Points
Hindustan TimesDMart Q4 Update: Revenue rises 20% YoY to Rs 10,337 cr; store count at 324
For the third quarter, Avenue Supermarts reported a 7% YoY rise in consolidated net profit at Rs 590 crore. Operating profit, calculated as earnings before interest, tax, depreciation and amortization (EBITDA), rose 11% year-on-year to Rs 965 crore during the third quarter, but operating margin contracted by a sharp 106 basis points to 8.34%. Key Points
Economic Times
Apple’s retail plans will push company deeper into China, overhaul US stores
Apple looks to bring fresh luster to its 22-year-old retail operation, which is one of the worlds most venerated chains but also has contended with pandemic woes, customer service problems and labor unrest in recent years. The idea is to build Apples brand in growth markets, such as India, while also giving consumers in the US and Europe a better experience. Key Points
Economic TimesDyson and Apparel Group Black Friday Sale: Check out top deals and offers
Dyson and Apparel Group are offering exciting deals for Black Friday and Cyber Monday. Dyson offers up to ₹17,000 savings on products, along with a 10 percent instant bank offer. Apparel Group has deals from popular brands. Key Points
mintDMart Q2 Preview: PAT may fall 3% YoY despite double-digit sales growth
DMart Q2 Results Preview: According to the provisional numbers released by the owner of DMart hypermarket chain earlier this month, the companys standalone revenue increased by nearly 19% YoY in the September quarter to Rs 12,308 crore. However, the net profit is expected to decline about 3% on year to Rs 666 crore, according to the average of estimates given by five brokerages. Key Points
Economic TimesTrent Q1 results: Profit jumps 44% at ₹148.27 crore
Standalone revenue from operations grew 53.4% from ₹1,652.86 crore reported in they ago period to ₹2,536.43 crore, the company said Key Points
mintD-Mart Q1 Preview: PAT growth likely to trail sales as margin under pressure
Ahead of its earnings, shares of the company end 0.5% higher on the National Stock Exchange at Rs 3,838.75. In the June quarter, the stock has gained more than 14% and scaled an over 6-month high of Rs 4,150 last month. Key Points
Economic Times
Many retailers are now betting big on larger outlets
Bigger store means high rental cost for retailers. Hence, they need to increase their revenues. Brands say more than the footfalls it is the conversion rate that matters. Key Points
Economic TimesTarget to close nine stores in major US cities. Check the list
Retail giant Target is set to close nine stores across major US cities due to escalating incidents of violence, theft, and organized retail crime. The affected locations include one store in Harlem, two in Seattle, three in the San Francisco-Oakland area, and three in Portland, Oregon. Key Points
Economic Times