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Grabal Alok UK reports a stellar performance

Jul '09
British value retailer Store Twenty One & QS (owned by the Mumbai based Alok Group), reported a significant turnaround in performance for the June 2009 quarter.

Gross sales grew by 4.9% to £25.9 mn during Apr-Jun 2009 compared to the £24.7mn recorded in the corresponding previous quarter. Cash Profit for the quarter was at £0.05 mn compared to a loss of £4.2 mn during Apr-Jun 2008. This was mainly achieved through various cost optimization measures which reduced overheads by £3.0mn during the current quarter compared to the corresponding previous quarter. The initial weeks of the second quarter appear to have maintained this momentum.

Commenting on the results, Managing Director, Alok Industries Limited, Dilip Jiwrajka said “It is heartening to see the results of the efforts and perseverance of Team UK paying off. The stores were able to weather the challenging times largely due better and more fashionable product offerings, significantly improved store ambience coupled with stringent cost reduction measures.

The continuing faith of its existing customers along with additional footfalls from new customers looking for great value, style and quality have also contributed to the turnaround. Stores have established excellent partnerships with its suppliers and it will continue to build on these relationships. The 'Store Twenty one' & 'qs' message is clear – offer great style, fashion and quality – at incredible value prices to surpass expectations”

Grabal Alok (UK) Ltd. (previously known as Hamsard 2353 Ltd.) is a UK based retailing company having 216 stores across England, Scotland and Wales. The Alok Group holds about 88% stake in Grabal Alok (UK) Limited. The stores offer value for money and quality fashion for women, men, girls, boys and babies. They also sell accessories like artificial jewellery, shoes and leather bags.

Grabal Alok (UK) Ltd

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