Bata India announces Q3 results, highlights footprint expansion, store renovation
By Retail4Growth Bureau | February 14, 2023
The footwear retail major, while announcing growth in operating profit and revenue for the quarter ended 31st December 2022, said that its retail footprint crossed the 2000 store milestone and mentioned its focus on store renovation strategy, with 35 stores having been renovated during the quarter.
Footwear major Bata India Limited has announced results for the quarter that ended on 31st December 2022. Revenue from operations for the quarter stood at Rs. 9002 million (a growth of 7% over the quarter ended December 21).
The Operating Profit stood at Rs. 1021 million, a growth of 22% over the quarter that ended in December 2021.
The results for the quarter showcased momentum behind the strategic levers driving strong portfolio evolution, strong footprint expansion across touchpoints coupled with improving cost efficiencies, helping drive revenue growth and increased margins despite significant inflationary pressure.
Some Key Highlights:
- Store expansion through Franchise & SIS. Footprint crosses 2000 Store Milestone.
- 39 new Franchise stores; total 390+.
- Store renovation strategy to enhance and premiumize customer experience. 35 stores were renovated during the quarter.
- Expanded Floatz collection to 1000+ stores. Floatz 2.0 collection launch is planned for current quarter.
Speaking on the Q3FY23 performance, Gunjan Shah, MD and CEO - Bata India Limited, stated:
“Continuous focus on refreshing product portfolio with our strategy of casualization and offering premium fashionable products reflected in overall ASP growth and expansion in share of our premium category brands like Hush Puppies, Marie Claire, Red Label, etc., that was backed by festivity and wedding season in the quarter. The quarter also marks the highest ever addition of Franchise stores with total footprint crossing the 2000+ milestone for the 1st time.”