Home / Knowledge / News / Apparel/Garments / Future Group Q3 FY'13 sales grow 6.5%
Future Group Q3 FY'13 sales grow 6.5%
01
Nov '13
Future group announces results for the third quarter of FY'13.

The company’s standalone business, posted a total income from operation of Rs 362 crore and EBIDTA of Rs 38 crore. The standalone business primarily includes its home and consumer durables retailing business.

The financial numbers are not comparable with September 2012 quarter due to the demergers of its lifestyle fashion businesses that included Central, Brand Factory, Pantaloons, among others.

The company’s largest subsidiary, Future Value Retail Limited (FVRL) operates Big Bazaar and Food Bazaar chains. FVRL’s posted a total income of Rs 1,954 crore for quarter ended September 2013, compared to Rs 1,835 crore for quarter ended September 2012, marking a growth of 6.5%. The company posted an EBIDTA of Rs173 crore for quarter ended September 2013, compared to Rs145 crore, marking a growth of 19.1%.

The company’s continued focus on improving efficiencies and productivity at stores and its merchandise mix helped gross margins improve from 25.1% to 25.7% year-on-year and EBIDTA margins improving from 7.9% to 8.9% year-on-year.

The company’s core retail business that includes all its retail business posted a turnover of Rs 2,317 crore and an EBIDTA of Rs 211 crore. The company is in the process of merging its wholly-owned subsidiary FVRL with itself and regulatory approval is pending on this process.

Same Store Sales Growth

The Same Store Sales Growth for FVRL, which operates Big Bazaar is 8%, while that for its standalone business, which includes its home and consumer durables chains Home Town and eZone is 7.4%.

Store Additions

During the quarter, Big Bazaar added its 12th Kolkata store and 11th store Mumbai store; strengthening its position in these cities. It also established its presence in Agartala and Kochi by adding its first Big Bazaar store in each of these cities.

During the quarter the company also opened eZone stores in Bengaluru, Ahmedabad, Mumbai and Mysore. The company also added HomeTown Express stores in Hyderabad and Lucknow.

The total gross addition during the quarter was 0.26 million sq feet space and total operational area increased from 10.27 million sq ft in the previous quarter to 10.34 million sq ft space.

Future Group


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search