In the December quarter, Pantaloon Retail, India’s largest listed retail chain, showed its lowest same-store sales growth figures in two years, signalling a continued slowing in consumer spending and economic growth.
Same-store sales (SSS) show growth through stores in the business for more than a year. The Kishore Biyani-promoted company posted SSS growth of 3.2 percent in value retail and 5.3 percent in lifestyle retail. The home segment was down 3.2 percent.
The Raheja-owned Shoppers Stop Ltd posted a 1 percent decline in like to like sales growth in department stores during the third quarter.
(Source: Business Standard)