Kishore Biyani’s Pantaloon Retail has reversed the sales trend, atleast in Jan-09. The stimulus provided by robust discounts (the extension of the Great Indian Shopping Festival that commenced in Dec08) appears to have had the desired effect, with Pantaloon Retail India Ltd – PRIL reporting +4%, +12.1% and -4.3% Same Store Sales growth across the Value , Lifestyle and Home retailing segments. Home retailing down due to Greedy Real Estate bubble bursting in India. FreePress India is reporting the actual numbers of the sales figures.
Over the month, PRIL (including Home Solutions) added ~260,000 sq feet of space, primarily in the Big Bazaar and Food Bazaar formats. The most important observation to make here is Food Bazaar [Reliance Fresh, Subhiksha kind of small format supermarket] accounts for 28% of the FMCG sales that occur through modern trade (MT) formats. Except for chocolates (14% market share), FB’s market share within MT formats across FMCG categories is 20-33%.
The big question now is will Future Group be able to continue to outperform the peers ?