Q3 FY09 is the first quarter when Indian businesses were influenced by the slowdown, despite the festival season. We now review the performance Vishal Retail – Megamart.
The company saw significant reduction in winter apparel sales witnessed during the quarter led by poor winter season in North India; which has resulted in an overall decline of 12-15% in the sales of the company. The app areal sales fell from 57% in Q2 to 54% in Q3 of overall sales.
Impact of seasonality coupled with low consumer (more…)