Value fashion retailer V-Mart Retail that recently opened 4 new stores - three in Uttar Pradesh and one in Jharkhand, is expecting some recovery in the fourth quarter of the current financial year and optimistic about the financial year 2021.
The company plans to strengthen its retail presence during the next financial year and expects sales to completely recover during the next fiscal year.
“We still have cautious optimism on Q4 and we may not be able to look at a complete recovery in Q4, but as far as next year is concerned, we have been making ample preparations for more store rollouts, expansion, and looking at newer opportunities,” Anand Agarwal chairman and managing director of V-Mart Retail told CNBC-TV18 and “For the next financial year, V-Mart Retail has been looking for more store rollouts, expansion, and looking at newer opportunities”, he added.
V-Mart Retail currently has around 274 stores across India with a strong presence in tier 2, 3 cities.
