"We plan to expand our hypermarket footprint by 55% over current trading area in the next 12 months," said newly promoted CEO Mohit Kampani.
"We will focus on the hypermarket format and not look to enter any new format soon. Next year we will have significant investments in upgrading our distribution centres and fresh processing centres which would improve product availability and freshness," he said.
"Spencer's have realized they will be more successful in the large format business. The business is turning around as they have reduced their losses and its quite possible they will pick up a partner soon," said an analyst.