Kolkata & New Delhi, 15 June 2024 Writankar Mukherjee and Faizan Haidar, Economic Times Indian retail is increasingly bedevilled by shrinkage or the loss of inventory due to shoplifting by customers, theft by employees, vendor fraud and supply chain errors. As a percentage of sales, shrinkage has risen at retail chains in India with industry executives attributing this to the rise in thefts amid growth in sales volumes. Tata-owned Trent Ltd said in its annual report that shrinkage swelled to 0.41% of sales in FY24 from 0.22% in FY23, primarily due to significant volume growth. In FY20, it was 0.21%…
Sagar Malviya, Economic Times Mumbai, 20 May 2024 Spain's Inditex, the owner of fashion brand Zara, saw its slowest ever sales growth in India, excluding the pandemic year, in FY24 as the world's largest fashion group faced rising competition from global rivals in the clothing market that is increasingly getting cluttered. Inditex Trent, its joint venture with Tata that runs 23 of Zara stores in India, saw revenue rise 8% to Rs 2,775 crore last fiscal, significantly down from 40% growth a year ago, according to Trent's annual report. Net profit was down too at Rs 244 crore, an 8%…
At the recent Phygital Retail Convention in Mumbai, Devangshu Dutta anchored an engaging "Fireside Chat" with Bhavana Jaiswal of IKEA India and Kapil Makhija of Unicommerce , on retailers engaging with their customers across channels and formats, and the opportunities as well as challenges in managing experiences seamlessly across online and offline interfaces. Watch the video at this link: https://youtu.be/Vdycbw_l7Pk?si=53Nn7Wj_hMuFPtXb
Sesa Sen, NDTV Profit 6 May 2024 Starbucks Corp., the world’s largest coffee chain, posted its slowest sales growth in India since the pandemic. The coffee giant is struggling to bring in as much business as it has in the past as consumers reduce their visits even as it prepares for ambitious store expansion in a tea-drinking nation. The India unit formed in partnership with the Tata Group clocked net sales of Rs 1,218 crore, a growth of 12%, during the year ended March 2024, according to Tata Consumer Products Ltd.'s latest investor presentation. The Seattle-based retailer experienced a compounded…
SAYAN CHAKRABORTY, Nikkei staff writer Bengaluru, 2 May 2024 India's packaged spice manufacturers MDH and Everest are under regulatory scrutiny in several countries after their products were allegedly found to contain carcinogenic elements, barely a year after cough syrups made in the South Asian nation were linked to the deaths of over 140 children in Africa. Countries like Australia, New Zealand and the U.S. are weighing investigations into the packaged spices made by the companies after Hong Kong authorities raised a red flag over their quality. This isn't the first time that the two -- among the largest such companies…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
