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Anand Rathi Report
The YoY drop in apparel/footwear/department-store Q3 revenue averaged 19%/5%/3% (57%/34%/28% average declines in Q2).
Innerwear continued to be the strongest performing category, averaging approximately 20% YoY growth, driven by continued traction in athleisure and thermal wear sales.
With October-November seeing a strong bounce back, the festival period brought in the much-needed respite to retailers.
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