From their lows over the past month, the shares of footwear major Campus Activewear have gained 13 per cent and closed at 280.4 apiece on Tuesday.
The gains came on the back of better than expected operating profit margins in Q4, reduction of debt, and expectations of market share improvement.
The company expects volume growth, which has thus far missed expectations, to recover going ahead on the back of multiple triggers. The company's revenue performance was broadly in line with a 4.6 per cent growth in revenues, brought on by a 4 per cent improvement in volumes and a marginal gain in realisations. Growth was led by the trade distribution channel, which grew 7.5 per cent, while the direct-to-consumer channel declined 6.5 per cent.
On the profitability front, gross margins fell by 155 basis points over the year-ago period and 140 basis points on a sequential basis to 49.9 per cent. This was on account of a 100 basis points impact and was due to lower average selling prices. There was also a 40 basis points one-time impact due to liquidation of old inventory.
This story is from the June 19, 2024 edition of Business Standard.
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This story is from the June 19, 2024 edition of Business Standard.
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