LABEL Issue V
offered to individual retailers. According to
take advantage of the opening of Asia's
the company, this concept would fetch more
third-largest economy to foreign operators.
shoppers in comparison to the traditional
H&M, which plans to spend around 100
fashion street formats. The project aims at
million on an initial 50 stores in India,
establishing a setup where shoppers can
received final approval in December from
shop directly from up to 1 lakh varieties
the Indian government to invest in the
displayed by retailers.
country.
Lotte India to invest Rs 300 cr
Interest
in Haryana : Will manufacture
Future Retail's profit
snack
Kishore
and
confectionery
charges
swallow
Biyani's
flagship
company, Future Retail, has paid 99.09 per
products
Lotte India Corporation Ltd, a subsidiary of
cent of its profit before interest and taxes
Lotte Confectionery Company Ltd of Korea,
(PBIT) as interest on its loans in the quarter
will invest a sum of Rs 300 crore at IMT
ending
Rohtak in Haryana for manufacturing snack
whatever it earned during the quarter went
and confectionery products.
into interest payment. The company said
The proposed project will generate direct
Future Retail paid an interest of Rs 149.3
and indirect employment for 700 people.
crore on PBIT of Rs 150.6 in the quarter
December
2013.
This
implies,
ending December 31.
Pizza restaurant chain Sbarro
to close 155 outlets in North
America
Sbarro, the Italian restaurant chain that's a
fixture in mall food courts, is closing 155 of
Team
its locations in North America.
The move is part of a broader plan to boost
financial
performance
management
Wednesday.
team,
the
The
underperforming
under
a
new
company
said
closings
company-owned
affect
stores
and not franchise locations, Sbarro said.
Ritika Bramhe Satyajit Gahana
Anusha Vasa
Kavita Peddinti
Aseet Debata
Ankit Mehta
Harshit Bora Prerana Majumdar
Hennes & Mauritz to open first
store in India in 2014
Hennes
&
Mauritz
(H&M)
will open its first store in India this year. It is
the world's second-biggest fashion retailer to
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