Go Fashion Q4 Results Review - Demand Outlook Remains Challenging: ICICI Securities

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Go Fashion India Ltd. continues to report double-digit revenue growth (15% YoY in Q4 FY24) driven by exclusive brand outlets retail expansion (+13% YoY). That said, retail expansion was below expectations for FY24 (84 stores versus guidance of 100-110 stores) due to higher store closures while it reduced guidance for FY25 to 120-150 stores (versus 150 earlier). Same-store sales growth remained flattish (1% YoY) as management highlighted continued weak demand environment and expects mid-single digit SSSG in FY25 (versus ~10% earlier). Average selling price increased by 4% YoY driven by better mix. Gross margins remained stable (management expects ~50 bps improvement in H1 FY25 on the back of lower-priced inventory), while operating margins were under pressure due to negative operating leverage. Inventory rationalisation (~22 days) at warehouse level led to material working capital improvement driving significant improvement in operating cash flows. Buy..Click on the attachment to read the full report:.RailTel Q4 Results Review - MoU With Quadrant Likely To Open Door For ‘Kavach’ Project: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Go Fashion Q4 Results Review - Demand Outlook Remains Challenging: ICICI Securities

Margins impacted due to negative operating leverage

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Go Fashion Q4 Results Review - Demand Outlook Remains Challenging: ICICI Securities

Margins impacted due to negative operating leverage

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