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Second wave to impact fashion retailers, revenue to hit pre-COVID levels only in FY23: Report

Second wave to impact fashion retailers, revenue to hit pre-COVID levels only in FY23: Report
The rating agency said the industry was recovering well till the second wave hit and sales had touched over 70 per cent of pre-COVID-19 levels by the December quarter of 2020.
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By PTI
MUMBAI: The second wave of coronavirus infections reported from various pockets of the country has come as a strong headwind to fashion retailers, and is expected to delay the recovery back to pre-COVID-19 levels till FY23, domestic rating agency ICRA said on Sunday.
The industry is set to show a revenue growth of 23-25 per cent on a low base in 2021-22, but that will not be sufficient to get the business performance back to the pre-COVID-19 levels, ICRA said in a report. ....

Sakshi Suneja , Priyesh Ruparelia , Sector Head Sakshi Suneja , Head Priyesh Ruparelia , சாக்ஷி சுனேஜா , பிரியேஷ் ரூபரேலியா ,

Second wave to impact fashion retailers, revenue to hit pre-pandemic levels only in FY23: Report

ICRA said the fashion retailers industry is set to invest Rs 2,400 crore in capital expenditure in 2021-22. ....

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Second wave to impact fashion retailers, revenue to hit pre-pandemic levels only in FY23

Second wave to impact fashion retailers, revenue to hit pre-pandemic levels only in FY23
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Last Updated: Apr 25, 2021, 04:21 PM IST
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Synopsis
ICRA says the industry was recovering well till the second wave hit and sales had touched over 70 per cent of pre-COVID-19 levels by the December quarter of 2020. A sharp spike in the number of new COVID-19 cases since March 2021 throws up strong headwinds for the sector.
The second wave of coronavirus infections reported from various pockets of the country has come as a strong headwind to fashion retailers, and is expected to delay the recovery back to pre-COVID-19 levels till FY23, domestic rating agency ....

Sakshi Suneja , Priyesh Ruparelia , Sector Head Sakshi Suneja , Head Priyesh Ruparelia , Fashion Retailers , சாக்ஷி சுனேஜா , பிரியேஷ் ரூபரேலியா , சில்லறை விற்பனையாளர்கள் , ஃபேஷன் சில்லறை விற்பனையாளர்கள் ,

Virus impact: Fashion retailers' revenue to hit pre-Covid levels in FY23

Virus impact: Fashion retailers' revenue to hit pre-Covid levels in FY23
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