Profit margins of 11 listed retail entities to moderate by 120 bps to 5.2% in FY2024 : ICRA, ET Retail
Post the pandemic, fashion retailers focused on rapid expansion of their store networks in FY2023, given the muted store expansions during the pandemic period in FY2021 and FY2022. Overall, the retail space area increased YoY by 27% (aided by a low base), with retailers in ICRA’s sample set spending Rs 1,460 crore towards capex in FY2023, despite the demand slowdown in the value fashion segment.
Source: indiatimes.com