13 April 2022, Mumbai:
Retailers Overcome Slow Start to Grow in Double Digits in Q4.
Apparel brands and retail cos could gain from healthy store additions.
ICICI Securities expects apparel brands and retail companies such as Trent, Aditya Birla Fashion and Retail, VMart, Shoppers Stop, and TCNS Clothing Company to post more than 20% YoY revenue growth in the March quarter, backed by the healthy store additions.
ALSO READ CRISIL Ratings: 'Offline Apparel Retailers' expected to witness growth trajectory this year
Office and school reopenings boost biz, but sales may be lower than in Q3
January was hit due to omicron with revenue recovery of 60% of pre-covid levels.
RELATED NEWS COVID-19 causes US$253 bn loss to Indian retail industry in 5 months
February improved with 80-85% recovery.
Sales in March grew 28% over a year ago.
Listed retailers across apparel, restaurants and supermarkets are posting double-digit YoY revenue growth in the March quarter despite a slow start due to the third wave with reopening of offices and schools, and weddings driving demand.
Join our community on Linkedin
CREDITS: ET Dt 13-04-2022 & ICICI Securities (The news article has not been edited by DFU Publications staff).
