Global Threads

Ap­parel gives you a roundup of im­por­tant news and events. Com­piled by Nam­rata D’souza

Apparel - - Contents -

Al­though net sales for the Kishore Biyani-owned Fu­ture Re­tail Ltd. rose at a rate of 5.3% to R 356 crores from the pre­ced­ing quar­ter, the com­pany faced its se­cond con­sec­u­tive quar­ter loss re­port­ing a stand-alone net loss of R 9.8 crores in the three months end­ing Septem­ber 30, 2013. The firm men­tioned in its state­ment that the num­bers for the Septem­ber quar­ter can­not be com­pared with the year-ago fig­ures due to the de­merg­ers of its life­style fash­ion busi­nesses that in­cluded Cen­tral, Brand Fac­tory and Pan­taloons among oth­ers. Fu­ture Re­tail is in the process of merg­ing its wholly owned sub­sidiary Fu­ture Value Re­tail Ltd. (FVRL) with it­self and is await­ing reg­u­la­tory ap­proval for the same. Its stand-alone busi­ness pri­mar­ily in­cludes its home and con­sumer durables. Dur­ing the Septem­ber quar­ter, Big Bazaar also added a store each in Kolkata, Mum­bai, Agartala and Kochi and opened eZone stores in Ben­galuru, Ahmedabad, Mum­bai and Mysore as well.

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