Counterfeit photo
YEARS
Reliance Retail has increased the trading area of non-food and general merchandise in its grocery stores by about 50 per cent to improve margins. An industry insider said that with this move the company wants to promote local sales through its e-commerce platform JioMart.
New Delhi. Reliance Retail, the country’s largest retailer, has increased the trade area of non-food and general goods in its grocery stores by about 50 percent to improve margins. An industry insider said that with this move, the company wants to promote local sales through its e-commerce platform JioMart. The retailer is connecting its Smart and Smart Bazaar stores through JioMart, giving more variety to consumers.
Under this, Reliance Retail is now making changes in its stores and allocating more trade area for non-food and general goods. This is a segment which gives higher margins than other segments like grocery and apparel. In the latest June quarter, Reliance Retail’s profit before tax (EBITDA) margin from operations was 8.2 percent, which is 0.3 percent higher on an annual basis.
Its EBITDA margin was 8.5 per cent in FY 2023-24, an improvement of 0.7 per cent year-on-year. An email sent to Reliance Retail for comment on this matter was not answered till the time of writing the news. Reliance Retail aims to double its business in the next 3-4 years. The company is also trying to improve its margins.
Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.
Other News
