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    Reliance Retail expecting to break even by September

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    Reliance retail, reportedly, is expecting to break even at the store level in all cities, except Mumbai, this September. “We will be able to generate cash at our stores by September, except in Mumbai, where real estate cost for our stores is still high,” an anonymous company official was quoted in media reports as saying.

    At present, RRL operates over 900 stores (including 50 in Mumbai) and has already achieved a break even at the store level in around one-third of the 80 cities it operates in, according to media reports. The official further stated, “Stores in Chennai, Bangalore, Hyderabad, Orissa and half the ones in Delhi have broken even. Stores in the other metro, Kolkata, however, may fail.”

    The company’s value formats, comprising convenience store , supermarket and hypermarket , together constituted around 590 stores in 13 states, according to the company’s 2007-08 estimates.

    — IndiaRetailing Bureau