Retailigence

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Future Group hopes to sail thru difficult times in Q4

Posted by retailigence on January 2, 2009

MUMBAI: Retail chains may be struggling in the face of the economic slowdown, but Kishore Biyani’s Future Group seems to be buoyant in the New Year, expecting to do well in the quarter ending March 2009.

“I don’t see a problem in this quarter. February and March are traditionally good months for us…and with interest rates coming down, we hope to do well (in the quarter),” Future Group Chief Executive Officer, Mr Kishore Biyani said.

With regard to Future Retail, Mr Biyani said October and November were “two good months” for them in terms of sales. Then in December, it announced the three-week long Great Indian Shopping Festival, which would end on January 4. “We have had requests to extend the shopping festival. We are thinking about it,” he said. “Most formats have done well, save for the home segment,” he said and attributed the reason to the realty sector having been through volatile times.

Overall, he termed quarter three as having done well, but did not give details on the sales clocked or a comparative view on performance year-on-year. “We are trying to boost consumption. We are working on something else (on similar lines as the GISF). We have something lined up in February and March across all segments,” he said but refused to reveal more. The group has another shopping bonanza plann ed for January 26 as well, he said. – PTI

Sources- The Hindu

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