V-Mart Retail, Lalit Agarwal: Normal revenue expected despite Covid 3rd wave disruptions
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07 January 2022, Mumbai:
Value fashion retailer V-Mart Retail doesn’t expect a big drop in revenue in the coming quarters, despite the fresh disruptions caused by the Omicron variant of Covid.
The company has witnessed a slight drop in footfalls over the last few weeks due to the Omicron fear, however, doesn’t expect it to have a major impact on its numbers this year.
“We have not seen too much of footfall drop, but there is an impact, which has started coming in from last week. We started seeing a little slowdown in footfall from the last week. So, it was almost below the pre-COVID levels," Lalit Agarwal, chairman and managing director at V-Mart Retail said in a statement.
“On revenue, we don’t see a big drop due to a rise in the number of Covid-19 cases this time around. The consumption has come up and since the company caters to needs, customers will buy when they need to,” he added.
V-Mart is currently operating 300 stores. It recently opened a store in the state of Uttar Pradesh and plans to open another 12-15 stores this year.
(The news article has not been edited by DFU Publications staff)
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