V2 Retail expects growth to turn positive in Q3

Value fashion retailer V2 Retail is witnessing a gradual pickup in store operations. The retailer has narrowed its net loss to Rs 7 crore ($1 million) in the second quarter ended September 2020, as against a net loss of Rs 10 crore it reported in the corresponding period last year. Sales during the third quarter declined 44 per cent to Rs 85 crore, as against Rs 151 crore it had posted in the year-ago period. However, V2 Retail is confident of returning to profitability due to its sustained focus on customer experience, merchandise selection, strong brand recall, and omnichannel presence

Launched in 2001, V2 Retail is one of the fastest growing retail companies in India and also one of the most experienced. The company has more than 37 stores of which three are in Delhi-NCR, 14 in Bihar, 8 in Uttar Pradesh, 2 in Odisha, Uttarakhand and Assam, 1 each in Jharkhand, Karnataka, Himachal Pradesh, West Bengal, Arunachal Pradesh and Tripura. It mainly retails womenswear, menswear, and children’s wear.