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V-Mart located on the Southside is an Asian grocery store that has foods, items, from all sorts of different Asian cultures. They give KRIS 6 News a tour of the store.
Vmart Q3 Profit: "Good festive demand in the quarter helped increase footfalls by 23 per cent reflecting an improved consumer sentiment. Winter season was delayed and remained muted during the quarter. Working capital improved with a decrease in inventory by 12 per cent from last quarter," said an earning statement from the company.
India's top retailers, including Reliance Retail, Titan Company, Avenue Supermarts, V-Mart Retail, and Shoppers Stop, have slowed down their store expansion this fiscal year. The slowdown is attributed to a focus on profitability and a saturated market with limited room for new outlets. Jefferies reported that Reliance Retail has reduced retail business capex and store additions have decreased.
Motilal Oswal recommended Neutral rating on V-MART with a target price of Rs 1800 in its research report dated December 13, 2023.
Amit Agarwal the group CFO at Raymond spoke to CNBC TV18 and said that the feedback from the stores is positive ahead of the wedding season in India and footfalls have increased 'dramatically'