A slowdown in the economy and poor consumer sentiment have hit India’s leading organised retail players, which saw sales growth fall by almost a third last financial year. The average sales growth of the top three listed retailers – Future Retail, Shoppers Stop and Trent – came down to 11 percent in 2012-13 from 29 percent the year before, data culled by BS Research Bureau showed.
Growth of the overall organised retail segment, which accounts for 7 percent of the INR25 lakh-crore (INR2.5 trillion, USD43.32 billion) Indian retail market, slowed to 10 percent in FY2013, compared with 20 percent seen in 2011-12, said a research note from analytics firm CRISIL.
Kishore Biyani-led Future Retail, the country’s largest listed retailer, saw sales growing 10.1 percent last financial year against 31.6 percent in FY2012, while Raheja-owned Shoppers Stop saw a growth rate of 14 percent in FY2013, compared with 28 percent in the previous year.
(Source: Business Standard)