Apparel Retailers Check - Seeing Steady Rebound: Motilal Oswal
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Motilal Oswal Report
Our recent channel checks and talks with multiple retailers (listed and unlisted) indicate Q3 FY22 performance has seen a steady rebound from Covid-19 – particularly, with healthy like-for-like growth in the high single digits to the mid-teens over the October–November 2021 festive period.
However, December 2021 has been somewhat sluggish, especially after the first 10 days, possibly due to-
the lack of auspicious period buying for weddings over the next 30 days,
consumption fatigue after the period of pent-up demand, and
consumers and local authorities getting sensitised to the Omicron-led rise in Covid-19 cases.
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