Though there were mixed signals on growth in the March quarter, fierce competition from online players and margin pressures, retail majors are expanding aggressively in FY20. Same-store sales growth for most retailers in the March quarter were soft, with growth aided by new store additions.
Shoppers Stop, Pantaloons, V-Mart, and Future Lifestyle Fashion’s Central reported same-store sales growth of under 6.5 per cent for the quarter. Analysts at Edelweiss Securities say that apparel retailers clocked softer same-store sales growth on general slowdown and a limited period of sale season. ...
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