The pandemic has had an impact on attendance; activity could increase after the first quarter: Aditya Birla Fashion
The second wave of the pandemic impacted customer traffic and slowed growth towards the end of the March quarter, but economic activity is expected to gradually pick up after June, said Aditya Birla Fashion and Retail Ltd (ABFRL) .
The company is working to strengthen its supply chain and digital back-end as it expects the e-commerce game to outpace the growth of previous years across all of its brands, ABFRL said in its updates. update on the impact of COVID.
Besides expanding its network, plans must be aggressive in order to increase its reach further and further into the country, he added.
We hope that the performance of the holiday season will be as good as last year and that customers have a more secure shopping experience. We expect economic activity to pick up gradually over the next few months after the first quarter of fiscal 22, the Aditya Birla Group company said.
Locks this time around are more localized and as cases fall they may become relaxed and limited to just a few parts of the country while the rest of the cities start to open up, he added.
These restrictions in large parts of the country including Maharashtra, Delhi, Karnataka, Tamil Nadu, etc. had a dramatic impact on store footfall towards the end of the fourth quarter, he said.
As of May 25, 2021, ABFRL’s 419 stores, out of a total network of 3,212 stores, were operational.
ABFRL, the country’s largest pure-play fashion company, has a repertoire of market-leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England in addition to its retail brand Pantaloons.
As we are allowed to resume our operations after the locks are lifted, we are prepared to open each store with the utmost care, applying the highest safety and hygiene standards and protocols to make them absolutely safe. for our consumers, he added.
ABFRL reported a widening of its net loss to Rs 196 crore in Jan-Mar 2020-21 from Rs 147 crore a year ago.
Total operating income declined slightly to Rs 1,822 crore in the quarter under review from Rs 1,832 crore in the same period of 2019-20.
While the company expects a delay in standardization, it is working tirelessly to strengthen its supply chain and digital back-end.
Our e-commerce business is expected to exceed the growth of previous years for all of its brands. Investments in hyper-local commerce, WhatsApp commerce and mobile apps will significantly increase their contribution to sales, he said.
ABFRL updated its product designs and focused on making brands more precarious to fit the market context with people working from home.
Our brand portfolio has reinvigorated their offerings and would continue to meet the fashion needs of our consumers, he said.
ABFRL said it saw an astonishing recovery in performance in the second and third quarters of the last fiscal year after the lockdown.
Fueled by weddings and renewed consumer optimism, activity grew strongly between January and February 2021, compared to the same period in FY20, he said.
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