Early this Morning, RetailMantra reported that Pantaloon is seeing a pick-up in demand. We initiaed contact with Pantaloon and could confirm the same. Here is what the company has told us.
Pantaloon Retail India has reported over 14.54% growth in sales in May 2009 from its value, home and lifestyle retailing segments.
Sales from Value Retailing, Life Style Retailing and Home Retailing stood at Rs 619.27 crore as against Rs 540.66 crore in May 2008. July-May 2009 sales from these three segments stood at Rs 6,917.29 crore as against Rs 5,341 crore, indicating a rise of 29.5%.
Same store growth under Value Retailing was 8.14%, Life Style Retailing was 8.35% and Home Retailing as -28.27%. [Bad news for the Indian Real Estate Sector]