TCNS Clothing Q1 Review - Below Expected: IDBI Capital
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IDBI Capital Report
TCNS Clothing Co. Ltd. reported below expected result for Q1 FY22.
The company could operate for 48% trading days during Q1 FY22 as a consequence there was 44% recovery in the overall business.
Online channel grew 1% QoQ and contributed ~50% to revenue. Exclusive brand outlet and large format store channels were more impacted due to lockdown.
Gross margin expanded during the quarter due to channel mix.
TCNS Clothing added one 'W' while closed three Aurelia stores during the quarter.
Positively, omni channel initiative has been rolled out in 100 stores with on-boarding of three major channel partners.
This should help in improving contribution and business economics from online.
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