Retailing
Retailing
SECTOR | 07 Jul 2021
buy
by ICICI Securities Limited
ICICI Securities Limited
Q4FY21 had exhibited a sense of normalcy with revenue recovery across retailers hovering at ~80% of pre-Covid levels. However, lockdowns due to second wave in April, May derailed the recovery process and Q1FY22E performance is expected to be negatively impacted. With a significant surge in Covid-19 cases across some states in India, footfalls dropped to 35% of pre-Covid levels in April 2021 with 45-50% of stores being operational. The situation deteriorated further in May as most states across India announced lockdowns to control the spread of the second Covid wave. Some larger...
 
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