Spencer's Retail seeks shareholder nod for CEO re-appointment

Spencer's Retail Limited initiates postal ballot for re-appointing Anuj Singh as CEO & Managing Director for three years from March 22, 2026, with monthly salary of Rs. 27.45 lakhs.

Spencer's Retail Q3FY26 Loss Widens to ₹58.35 Crores

Spencer's Retail reported consolidated net loss of ₹58.35 crores for Q3FY26, wider than ₹47.34 crores in Q3FY25. Revenue declined 2.73% YoY to ₹502.87 crores. Board approved CEO reappointment.

Spencers Retail Reports Mixed Q2 Performance with 7% QoQ Growth Despite Year-on-Year Decline

Spencers Retail Limited reported consolidated sales of Rs 445 crores for the quarter ended September 30, 2025, showing 7% quarter-on-quarter growth from Rs 416 crores but declining from Rs 518 crores in the same quarter last year. The company's Spencers division achieved 9% QoQ topline growth driven by online sales, which surged 53% due to higher order volumes and customer frequency. Gross margins improved to 19.6% from 19.1% in the previous quarter, compared to 15.4% in the prior year. However, EBITDA decreased to Rs 13 crores (3.4% of sales) from Rs 15 crores (4.2% of sales) in the previous quarter, primarily due to increased marketing investments and lower other income. Nature's Basket maintained flat sales at Rs 68 crores with margins at 27.6%. The company reported a consolidated loss before tax of Rs 64 crores, marginally higher than the Rs 62 crores loss in the previous quarter but improved from Rs 87 crores loss in the same quarter last year. Spencers operates 98 stores with total area of 9.17 lakh square feet, while Nature's Basket runs 33 stores.

Spencer's Retail Appoints Manjir Basu as New CFO, Sandeep Kumar Banka Transitions to Group Role

Spencer's Retail Limited appointed Manjir Basu as Chief Financial Officer and Key Managerial Personnel effective September 19, 2025. The appointment was approved by the Board of Directors following recommendations from the Nomination and Remuneration Committee and Audit Committee. Sandeep Kumar Banka ceased to be CFO on the same date as he transitions to a new role within the group. Basu is a Chartered Accountant with a B.Com degree from St. Xavier College Kolkata, bringing over 20 years of experience in financial management, business finance, cost control, treasury, fund raising, working capital, compliance, risk management, stakeholder management and digital transformation.