Anand Rathi: Consumer Retail Q2 FY21 Earnings Review
A pair of women’s shoes are displayed on a mannequin as an employee cleans the floor inside the new Marks & Spencer Reliance India Pvt. store in the Bandra (Photographer Dhiraj Singh/Bloomberg)

Anand Rathi: Consumer Retail Q2 FY21 Earnings Review

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Anand Rathi Report

The lifting of restrictions and rise in operating days led to discretionary retail’s sequentially better performance.

Apparel/footwear/department store revenues averaged 57%/34%/28% YoY drops (89%/67%/58% in Q1).

Growth in the less-discretionary innerwear averaged 4% YoY led by innerwear, athleisure and thermal-wear demand.

E-commerce continued to gain considerable traction, growing more than 1.5 times-2 times for most (Shoppers Stop Ltd., Trent Ltd., Adity Birla Fashion & Retail Ltd., TCNS Clothing Company Ltd., Page Industries Ltd., Dollar Industries Ltd., Khadim India Ltd., Arvind Fashions Ltd.).

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Anand Rathi Retail Review Q2FY21.pdf

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