Organized retail majors record over 50% growth in Q2

The Economic Times reports that the top five retailers in the organized retail sector have had a phenomenal performance this past quarter, with a combined net sales growth of more than 50% for the quarter than ended September 2006. The top five retailers, Pantaloon Retail, Shoppers’ Stop, Trent, Titan Industries and Provogue, have combined net sales growth of 52% and net profit growth of 22%. Pantaloon Retail had the highest net sales growth at 65%, its value segment increasing by 78% and lifestyle segment increasing by 50%. Value retail accounts for close to 72% of the company’s turnover.