BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
As per our channel checks, apparel retail players have witnessed one of their best festive season sales on the back of healthy pent-up demand and strong wedding season. In the pre-festive quarter (Q2 FY22), the revenue recovery rate had already inched up to 80-100% of pre-Covid-19 levels.
On a favourable base of Q3 FY21, we expect our coverage universe to report revenue growth of 28% YoY in Q3 FY22. In a bid to negate inflationary pressure (all-time high yarn prices), apparel retailers are expected to have taken price hikes in the range of 15-20%.
Positive operating leverage and certain rationalisation of fixed overheads are expected to mostly negate inflationary pressure on margins YoY.
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