Retail News Podcast: Episode 17, Aug 23

1. AIRG signed a Partnership agreement with the District Skills Committee, East Delhi for training and placement of youth 2. Everstone is negotiating the sale of a 41% share in a Burger King franchisee in India. 3. ITC profit increased by 22.6% to Rs 5,225 crore in the fourth quarter of FY23, while FMCG segment revenue increased by 15% to Rs 13,033 crore. 4. Profit at Pizza Hut and KFC operator Devyani International fell by 21.2% in the fourth quarter of FY23. 5. Swiggy’s meal delivery service is now profitable: Founder and CEO Sriharsha Majety 6. Trident Group purchases Shipra Mall in Ghaziabad through an auction for Rs. 551 crore. 7. Zomato makes three significant hires and promotes Rakesh Ranjan to CEO of meal delivery. 8. Packaged food accounts for a sizable portion of Q4 revenues. 9. Walmart is considering buying shoes, bicycles, and toys from India. 10. PVR Inox’s declining attendance reflects Bollywood’s declining fortunes. 11. Aditya Birla Fashion & Retail Reports a Net Loss of Rs. 194.54 Crore for the Fourth Quarter. 12. In Q4FY23, Spencer’s Retail’s standalone net loss increased to 48 crore.