28 July 2023
28 July 2023
High inflation has dampened bank holiday spending so far, but falling inflation offers retailers a chance to boost bank holiday spending.
The company expects revenue in the range of $2.46bn - $2.52bn in Q3 FY23
The company's solid brand identities and enduring appeal among young consumers have contributed to its continued success.
The sovereign fund is planning to invest $1bn in Reliance Retail, in exchange for about 1% stake.
The company expects currency-adjusted sales to grow in the high single-digit percentage range in 2023.
The company has planned 13-15 store openings this year and up to 120-140 new stores by the end of 2027.
The retailer saw its identical sales increase by 4.9% during the quarter.
The store has lower computation problems and camera-associated costs compared to existing cashier-less stores.
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