Future Retail Ltd, the highly indebted general retailer caught up in a tussle between US-based retailer Amazon and its Indian rival Reliance Retail, said a request made by its independent directors seeking a loan of Rs 3,500 cr was of a preliminary nature. “The communication between Amazon and Independent Directors were of a very preliminary […]
The court of Chief Justice of Delhi High Court will today hear appeals filed by Future Retail and its promoters against a decision by a single judge bench yesterday that refused to issue directions to a Singapore arbitration panel. Yesterday, a Delhi High Court bench comprising Justice Amit Bansal had refused to accept arguments by […]
Future Retail, the pioneering modern retail chain founded by Kishore Biyani, today said it will take steps to implement its agreement with Reliance Retail as it is not a party to the agreement quoted by global retailer Amazon to block its merger with Reliance Retail. The agreement is with one of its promoters and group […]
Future Supply Chain Solutions Limited, the logistics arm of the biggest large-format retail chain in the country, continued to report strong growth on the top line and improving profits, but expenses too largely kept pace. The company’s revenue from operations grew by 34.4% on year to Rs 276.2 cr for the September quarter, an increase […]
Future Retail, the country’s largest brick-and-mortal retailer with over 1,100 stores, reported an overall improvement in its profits margins in the Apr-June quarter. The improvement was largely the result of a slight dip in operating expenses, even as sales fell as the company shut unprofitable outlets. Excluding such stores, sales improved 7.1% on year. Net […]
Kishore Biyani-promoted Future Retail has bought Foodworld, a supermarket chain that is popular in Bangalore, for Rs 40.79 cr in cash. The acquisition of the grocery-focused retail chain will strengthen Biyani’s existing portfolio of super markets, particularly the smaller stores under the EasyDay brand. Foodworld had revenue of Rs 119 cr for the year ended […]
Kishore Biyani, head of Future Group, outlined mega expansion plans for his retailing business for the next 12-15 months in the context of the entry of WalMart into India’s retailing sector. “Our plan is to add 1,000 small stores over the next 12-15 months,” Biyani told CNBC-TV18 in an interview. “Our plan is to open […]
CyberMedia Research, the market research arm of the CyberMedia publishing group, has predicted that the $16 bln acquisition of Flipkart by WalMart, the world’s largest retailer, will bring far-reaching changes in India’s retail sector, both online and offline. The news of the deal has already led to some response from offline retail players such as […]
Companies belonging to the Future Group, which runs India’s largest super market chain Big Bazaar, said they have not taken any decision on selling a minority stake to any global retailer. Their comments came in response to a clarification sought by the stock exchanges into a news report that quoted Future Group founder Kishore Biyani […]
Future Retail, the flagship company of the Future Group led by Kishore Biyani, reported an 81% jump in its net profit due to higher operating leverage afforded by increasing revenue and a sharp dip in interest costs. Net profit for October-December rose to Rs 183 cr from Rs 101 cr in the year-ago quarter and […]
Future Retail will pay most of the cost of its proposed Hypercity acquisition by issuing new shares, and only about a fourth will be paid in cash. The deal will put even more distance between Future, which operates chains such as Big Bazaar and Central, and other players in India’s organized retail market. Hypercity is […]
Heritage Foods Ltd said it agreed to sell its food retail business to Future Retail Ltd in return for shares in the Kishore Biyani firm. The businesses covered by the deal are grocery and food retail, agricultural sourcing, processing and marketing, and bakery. As part of the deal, Future Retail will issue about 1.80 cr […]
