According to companies, industry associations, and analysts, retail sales was lacklustre in April-May. Consequently, companies have started early end-of-season sales due to mounting inventory. Ratings agency ICRA expects fashion retailers to report a 10% growth in revenues this financial year, slowing from a 51% increase in FY23.
“Almost every lifestyle company indicated that the demand scenario continues to remain soft across product categories, price ranges, and geographical regions. While April-May 2023 has possibly seen a more pronounced impact of the higher base of last financial year, clearly footfalls have been weak. Although revenue trends have been better in June, it continues to remain modest," analysts at Motilal Oswal Financial Services said in a report on Monday. The brokerage hosted a retail investor day on 17 June inviting firms to share their views on both demand as well as the business environment.
Bu hikaye Mint Mumbai dergisinin June 20, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin June 20, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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