Branded Apparels Q3 Earnings Preview - Strong Quarter; Upgrades To Continue: ICICI Securities
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ICICI Securities Report
We expect apparel brands/retail companies to show a strong revenue recovery (probably in excess of low-double-digit growth over pre-Covid-19 levels) for Q3 FY22, led by improved consumer sentiment due to festive / wedding season and with easing of various lockdown-related restrictions.
Most companies capitalised themselves and managed costs well during the previous two Covid waves and are in a better position to manage current Covid-related uncertainties, in our view.
As highlighted in our recent note; we believe companies would be able to post better than pre-Covid margins with scale benefits and increased cost efficiencies, and expect consensus earnings upgrade to continue.
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