INDIA: Pantaloon Retail to separate hypermarket business
Pantaloon Retail plans to separate the management of its Food Bazaar and Big Bazaar food retail and hypermarket units from its other retail businesses.
The move comes in response to rising business volumes, with fourth-quarter profits in the segment increasing 74%, the company told just-food.
"It has become a challenge running a US$4bn business and we hope to manage our bigger businesses independently," Pantaloon director Kishore Biyani told just-food.
"We will increase our selling space from 11m square foot to 15m square foot this financial year," he added.
Indian retailer Future Group said it has scaled down its retail space expansion plans by almost half, according to reports....
Indian retail group Pantaloon Retail has posted a 6% increase in quarterly net profit, propelled by soaring sales across its stores....
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