“The Board has given in-principle authority for considering various options with regard to Hometown format, however, there is no final understanding which had been arrived at till date,” the Kishore Biyani-led firm said in a filing to BSE.
According to a PTI report: The company said nothing has been finalised yet, adding that we “would avoid giving any disclosures about possible transactions to avoid any speculative activities”.
The company was responding to queries that Future Group plans to sell home furnishing business Hometown, shut down sportswear arm Planet Sports and merge stores of electronics chain E-zone with supermarket Big Bazaar.
Future Retail launched ‘HomeTown’ in April 2007 with its first store at Noida. HomeTown retails home decor products including furniture.
Future Retail’s flagship businesses include Big Bazaar and Food Bazaar.