INDIA: Retail expansion fuels Bata India FY profit
- FY profit up 20.8% to INR17.16bn
- Net sales up 19.5% to INR184.12bn
- MD pledges to continue retail expansion in 2013
Footwear business Bata India posted strong double-digit increases in full-year net profit and sales in 2012, boosted by the company’s continued retail and wholesale expansion.
Bata opened or relocated 152 stores in 2012 and said it will continue to add new outlets in 2013.
Meanwhile, it said wholesale had continued to grow, adding new customers in unrepresented towns, adding that its Branding, Institutional, Safety and Exports divisions had also continued their expansion.
“We have continued on our strategy of expanding our retail footprint, improving our merchandising and coming up with newer and better designs,” said Rajeev Gopalakrishnan, group MD.
“We maintained the focus on our product quality and comfort.”
Indian footwear group Bata has seen second-quarter net income increase on rising sales. ...
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