Spencer's Retail Ltd
NSE:SPENCERS
Spencer's Retail Ltd
Spencer's Retail Ltd. owns and operates retail stores. The company is headquartered in Kolkata, West Bengal and currently employs 4,882 full-time employees. The company went IPO on 2019-01-25. The company is a multi-format retailer company, which is providing a range of merchandise across various categories, such as fast-moving consumer goods (FMCG), including food items, and non-food items like fashion, staples, general merchandise, personal care, home essentials, electrical and electronics. Its specialty sections, includes Spencer’s Gourmet, Patisserie, Wine and Liquor, and Epicuisine section are some of the differentiators in its hypermarket store. 2Bme, Smart Choice, Healthy Alternatives, Hands on, Inscapes, Tasty Wonders, Clean Home, Maroon, Island Monks, Mark Nicolas, Asankhya, Scorez, La Bonita and Island Monks Kids are some of the Company’s brands. The company operates over 197 stores in India, including Nature’s Basket, which is present in over 41 Indian cities.
Spencer's Retail Ltd. owns and operates retail stores. The company is headquartered in Kolkata, West Bengal and currently employs 4,882 full-time employees. The company went IPO on 2019-01-25. The company is a multi-format retailer company, which is providing a range of merchandise across various categories, such as fast-moving consumer goods (FMCG), including food items, and non-food items like fashion, staples, general merchandise, personal care, home essentials, electrical and electronics. Its specialty sections, includes Spencer’s Gourmet, Patisserie, Wine and Liquor, and Epicuisine section are some of the differentiators in its hypermarket store. 2Bme, Smart Choice, Healthy Alternatives, Hands on, Inscapes, Tasty Wonders, Clean Home, Maroon, Island Monks, Mark Nicolas, Asankhya, Scorez, La Bonita and Island Monks Kids are some of the Company’s brands. The company operates over 197 stores in India, including Nature’s Basket, which is present in over 41 Indian cities.
Quarterly Growth: Spencer Retail saw strong quarter-on-quarter growth of 13%, despite a marginal 2.7% year-on-year decline, largely due to the festive season being split across two quarters.
Margins: Gross margins remained robust at 21.2% consolidated (Spencer's at 20%), with a modest improvement both quarter-on-quarter and year-on-year.
Online Momentum: Online sales grew by 27% year-on-year, now making up around 16–17% of the business, with Jiffy platform achieving positive unit economics for the first time.
Membership Program: Membership initiative is driving higher retention, frequency, and spend, with members making up 25% of sales and showing 80%+ retention rates.
Operational Efficiency: Cost control efforts, particularly inventory optimization and disciplined operating expenses despite one-off labor code provisions, are improving EBITDA performance.
Guidance: Management expects mid-single-digit revenue growth in Q4 for Spencer's, continued improvement in EBITDA, and a path to operational EBITDA breakeven in about two quarters.
