Earlier last month I had covered about the festive season growth witnessed by Pantaloon Retail India Ltd. There was a minor mistake – dates of festival in 2007 vs 2008. Hence to capture the broader scenario we are now comparing the same store sales growth between Sept – Nov-08 which is 10.7%, 9.0%, and (-)1.0% (yoy) SSG for Value, Lifestyle, and Home Retailing, respectively.
Milestones Reached by Future Group / Pantaloon Retail in Nov-08:
PRIL added 0.03mn sq ft of retail space in Nov-08. PRIL added one e-Zone [35th in the Chain] under its Home Solutions subsidiary and six KB Fair Price shops. PRIL expects to add 15 new stores in Dec-08 and Jan-09, including one Pantaloon Fresh Fashion, five Big Bazaars and five Food Bazaars (including cut-ins), three e-Zones, and one Home Town.
Future Prepaid Cards launched in Pune:
Customers can load this card with any monetary value and can use to make a payment at any Future Group outlet. The company already sells Gift Cards – for example Central Mall Gift Cards which can be used across any Central Mall in India. However, the Future Prepaid card can be used to purchase almost any merchandise across all Future Group outlets, thus makes a better Gift Card as well as card for parents to handover to their kids to restrict their spending habits.
The company further added and reiterated that it is all set to achieve revenue target of Rs 100bn by F2012 from own brands.