IndiaRetailBiz

Pantaloon Retail, the country’s largest multi-product, multi-segment, multi-format, listed retailer, part of Kishore Biyani-led Future Group, is expecting a good response to its 5-days long “Maha Bachat” shopping offer. The promotion is being offered across the country between 12th and 16th August, 2009, as part of 63rd Independence Day celebration.

While, the response may be slightly affected due to spread of swine flu in the Western region, particularly Pune, Mumbai, and their surrounding areas, the retailer is confident of good business from other areas of the country.

Although, Pantaloon Retail, according to group CEO Kishore Biyani, has experienced a sales decline of 20 per cent in Pune and 6 to 8 per cent in Mumbai in recent days, it is expecting to garner an overall business of around Rs 250 crore during the five days promotion period. Biyani disclosed this while speaking to CNBC TV 18.

While the crowds will not be as big as the retailer attracts during its Republic Day promotion on the 26th January, it will still result in decent business for the company, said Biyani.

Barring a closure of one store in Pimpri (Pune) due to H1N1 scare, most of other stores of the company in the Eastern, Northern, and Southern regions are doing quite well, added Biyani.

In reply to a question on growth during the fiscal 2010 which began on the 1st July, 2009, the company is aiming for a growth of 30 per cent in business during the year. This will translate into addition of 3.5 to 4 million sq ft of floor space this fiscal.