Spencer’s eyeing profit of Rs.20 per sq ft
By IANSThursday, February 10, 2011
KOLKATA - Retail arm of the RPG Group, Spencers Retail, Thursday said it was looking at profits of Rs.20 per sq ft from its outlets across the country by the end of this fiscal.
“We are expecting profit of Rs.20 per sq ft on an average in the retail outlets across the country. Our retail business reached break even point six months ago,” RPG Group vice-chairman Sanjiv Goenka told newspersons here.
The company recently opened new outlets in Allahabad, Hyderabad, Guntur and Ghaziabad.
Goenka said the outlets’ average revenue per sq ft stood at Rs.1,040, which was the highest in the industry.
“Spencers in South City Mall (in Kolkata) registered a revenue of Rs.1,685 per sq ft area in January. This is highest for any food store in India,” he added.
