Spencer’s Retail aims for net profit in two years after posting first EBITDA positive quarter in 22 quarters
Spencer’s Retail aims to achieve net profit within two years, driven by a 46% YoY EBITDA increase in Q3. The company plans to venture into quick commerce with a new service, Jiffy, and anticipates online sales to double. Focusing on core geographies and shutting unprofitable stores has led to a significant reduction in net loss.