The fourth quarter and full year ended on June 30 for Pantaloon Retail, India’s largest listed retailer, and both saw good growth in sales and profits. For the three-month period, a 50 percent sales increase to 2,493.7 crore (€420.5m-$534.7m) translated to a huge 170 percent gain in net profit to 98.8 crore (€16.7m-$21.2m). Comparable store sales growth in discount retailing was 11.5 percent; in lifestyle retailing it was 19.4 percent and in home retail it was 57 percent.
For the full year, consolidated turnover increased by 27.6 percent 9,786.9 crore (€1.65bn-$2.10bn). The profit after taxes and after minority interests jumped by 570 percent to 67 crore (€11.3m-$14.4m).
Planet Sports, the sports retail ivision of Pantaloon and India’s largest sporting goods specialty chain, has not yet publicized its results, but it has come up with a new logo. What was formerly a planet with a revolving orbit is now a planet made up of lines designed to look “dynamic,” emphasizing speed and agility.
The chain has also announced that it is partnering with XLR8, the indoor sports arena. The goal is to expand countrywide the XLR8 concept, which allows participants to play outdoor sports inside. It has facilities for cricket, hockey and football, among others, and is supported by Sportssoft, the sports software company. In addition to playing areas, XLR8 has modern changing rooms for men and woman, a viewing gallery, and areas for rehydration and refreshment. It is adding a clubhouse as well. The first one was opened in Bangalore in 2008.
