The global financial crisis, which has caused a slowdown in India, has adversely affected the organised retail business in India. Pantaloon Retail India Ltd, a frontrunner in the organised retail business registered a modest same store growth of 7.0 per cent for its value retailing business at Rs 308 crore in April 2009 from Rs 288 crore in April 2008.
Its life style retailing business grew 6.03 per cent from Rs 113 crore in April 2008 to Rs 120 crore in April 2009. The home retailing business of the company fell 28.21 per cent in its same store growth to Rs 35 crore in April 2009 from Rs 48 crore in the same period last year.
According to a monthly update by Angel Broking, the home retailing business of the company saw a steep fall from a 72 per cent year-on-year growth in March 2009 to just 11 per cent in April 2009 “as the festival season promotions that spurted consumer buying in March got over”.
The year-on-year sales growth in April 2009 for value, life style and home retailing businesses was 23.44 per cent, 18.10 per cent and 10.61 per cent, respectively.