Kolkata, July 30 (Inditop.com) Spencer’s Retail Ltd, the retail arm of the Rs.150-billion RPG Enterprises, has seen a revenue growth of 15 to 16 percent in the quarter ended June 30, a top official said Thursday.
“Sales per square feet are actually going up. We have seen a revenue growth of 15-16 percent in the 2009-10 first quarter as compared to the like period last year,” RPG Enterprises vice-president Sanjeev Goenka told reporters here.
Spencer’s had closed down 150 stores last year due to the economic slowdown, but Goenka said: “The closing down part is now over.”
The retail chain is planning to add 225,000 square feet of space this year to its existing one million square feet spread over 246 stores.
“We propose to open eight large format stores by infusing Rs.3 billion (Rs.300 crore) by March,” Goenka said.
He was speaking at the launch of the retail chain’s first gourmet store – covering an area of 1,500 square feet – in the city.
The store offers 4,000 products including a wide range of confectionaries, fresh fruits, vegetables, pastas, as also ingredients to cuisines of Thailand, China, Indonesia, America, Chile and Italy.
The retailer plans to open six more such gourmet stores in Gurgaon, Bangalore and Mumbai by the end of this fiscal at an investment of Rs.3 crore and expects a revenue of Rs.4 crore per annum, Goenka said.
