Dolat Capital: Footwear Industry Sees Gradual Recovery
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Dolat Capital Report
During our latest ground survey in the western market, we focused mainly on Bata India Ltd.’s footwear demand, new schemes, recent launches, and store manager’s confidence level.
In addition, discounts, promotions and recent marketing campaigns were also taken into account while interacting with the store managers.
Our checks suggest that the retail segment for Bata is recovering gradually. However, store managers are still uncertain about recovery of supply until the pandemic is over.
We believe that Bata would continue to register weak sales and muted operational performance on YoY basis in Q3 FY21E.
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