V-Mart Retail optimistic about FY 2021, expects recovery in Q4

By

Maverick Martins

Published
Jan 4, 2021

Value fashion retailer V-Mart Retail is expecting some recovery in the fourth quarter of the current financial year and is optimistic about the financial year 2021.
 

The company plans to strengthen its retail presence during the next financial year and expects sales to completely recover during the next fiscal year.
 
Despite the Covid-19 disruptions, V-Mart Retail recently opened four new stores: three in Uttar Pradesh and one in Jharkhand.

“At an overall level the quarter (Q3) looks slightly lower than last year; we should be trending around 80 percent or so, but we remain very optimistic on the future as we see a lot of customers in the market and demand reviving,” Anand Agarwal, chairman and managing director of V-Mart Retail, told CNBC-TV18.
 
“We still have cautious optimism on Q4 and we may not be able to look at a complete recovery in Q4, but as far as next year is concerned, we have been making ample preparations for more store rollouts, expansion, and looking at newer opportunities,” he added.
 
V-Mart Retail currently has around 274 stores across India with a strong presence in tier 2, 3 cities.