Metro Brands eyes pre-Covid margins as sales normalise on the back of opening up of the economy
07 December 2021, Mumbai:
The footwear retailer has seen demand pick up across categories post the second wave of the pandemic.
Rakesh Jhunjhunwala-backed Metro Brands expects its profit margins to go back to pre-Covid levels once its sales normalise. The footwear retailer's sales are moving back to normalcy with demand picking up across categories following the second wave of the pandemic.
During the pandemic, the company saw demand largely for casual and athleisure footwear. The company's profit margins stood at 12.5 per cent in FY20, before falling to 8.1 per cent in FY21 due to sales taking a hit due to the pandemic. In the first six months of FY22, its profit margin stood at 9.5 per cent.
Business Standard (The news article has not been edited by DFU Publications staff)
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