Retail in Asia

In Shops

India’s Pantaloon, Shoppers Stop report slow sales growth on consumer sentiment in 3Q

In the December quarter, Pantaloon Retail, India’s largest listed retail chain, showed its lowest same-store sales growth figures in two years, signalling a continued slowing in consumer spending and economic growth.

Same-store sales (SSS) show growth through stores in the business for more than a year. The Kishore Biyani-promoted company posted SSS growth of 3.2 percent in value retail and 5.3 percent in lifestyle retail. The home segment was down 3.2 percent.

The Raheja-owned Shoppers Stop Ltd posted a 1 percent decline in like to like sales growth in department stores during the third quarter.