TCNS Clothing Delivers Above Expected Q3 Numbers; Online Aids Recovery: IDBI Capital
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IDBI Capital Report
TCNS Clothing Ltd. reported above expected result for Q3 FY21 driven by better than expected margins due to cost rationalisation.
Online channel continues to witness strong revenue growth momentum. Recovery in large format stores continues to remain ahead of exclusive business outlets. However, multi-brand outlets channel continues to be severely impacted.
Recovery in Aurelia brand outperforms W-brand while recovery in Wishful continues to stay lowest.
During the quarter the company added nine stores while closed 22 bottom-performing stores.
Positively, offline stores are now fully operational.
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