Future Retail to focus on Big Bazaar expansion
Future Retail plans to spend around Rs.150-200 crore per year to expand Big Bazaar outlets in the Eastern region. The region contributes nearly 25 per cent to the company's total revenue, said a media report quoting top official.
As on December 31, 2018, the company’s Big Bazaar store count stood at 286 across 144 cities covering 12.5mn sq.ft. During the recent quarter, the company has added 2 new stores of the same with area addition of 0.14mn sq.ft.
Big Bazaar operates large formats stores which contributed around 85 per cent to the company's total revenue with SSG (Same Sales Growth) at 10.1 per cent in Q3FY19 vs 13.1 per cent in Q3FY18. The revenue increased by 13 per cent on YoY basis, whereas PAT increased by 10 per cent YoY.
Future retail promoted by Kishor Biyani operates in the various division through its brands like Big Bazaar, a hypermarket format; Food Bazaar, a supermarket; fbb, a fashion destination; Foodhall, a supermarket, and Easyday convenient stores. In terms of home business, the company functions Home Town, a one-stop destination for home improvement, and eZone, a consumer durables and electronics chain.
On Monday, the stock of Future Retail opened at Rs. 449.95 per share and made an intraday high and low of Rs. 451.75 and Rs. 439.50 on BSE. At 14:15 hours, the stock was trading at Rs. 447. The stock had hit its 52-week high of Rs. 638.95 on April 30, 2018 and its 52-week low of Rs. 401.95 on February 27, 2019 on BSE.