Key Points
The company's profit after tax for Q2 fell 41% from the previous year, while sales grew 4%..
Demand for apparel retail has moderated since Diwali 2022, but the company expects demand to return to normal in the second half of the year...
New Delhi: Department store chain Shoppers Stop is set to expand its value format chain Intune to 10 stores from the existing three, to compete with major players like Trents Zudio and Reliance Trends, strategically targeting the lower-end segment of the apparel market in India...
The new format will sell private labels but not follow the Shoppers Stop format under which it also retails third-party brands..
But overall, I think the apparel story is strong and we expect demand to be fairly back to normal from the second half," Nair said.. . Catch all the Corporate news and Updates on Live Mint..
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