Demand for premium products — from groceries and spirits to clothing and shoes — has bucked the slowdown trend, especially in the cities, amid a cutback in mass-priced segments due to inflation. The likes of Hindustan Unilever (HUL), Diageo India, Shoppers Stop, Reliance Retail and Metro Brands said consumers may be truncating shopping lists of…
Nomura maintained its ‘buy’ rating on Kotak Mahindra Bank but cut the target price from Rs 2,170 to Rs 2,110 (+10%) after the lender announced its Oct-Dec quarterly numbers. Analysts feel the bank has given a healthy performance in a tough macro environment, with a stable asset quality. The price was cut since analysts see…
Representative Image Demand for sportswear from running shoes to joggers and yoga mats slowed down for leading firms such as Puma, Adidas, Nike, Skechers and Asics, halting their sprint since the easing of the Covid-19 pandemic when they doubled their sales in two years. Sportswear firms have reported 1-25% year-on-year increase for FY24, down from…
Representative image Foot Locker global chief executive Mary Dillon said Indians are increasingly demanding sneakers such as Jordans and Samba, going beyond just having a sports shoes culture, mimicking the trend seen in the US and China many years ago. Foot Locker, a New York-based athletic retailer, is entering into India through a long-term licensing…
New Delhi: New York-based footwear retailer Foot Locker has partnered with Metro Brands and Nykaa to enter India market with an omnichannel approach, it said in a media release on Monday. With Metro Brands operating the New York-based retailer’s physical presence, it will open the first store in Select City Walk, Delhi. Apart from offline…
Representative Image Metro Brands, a Mumbai-based footwear retail company, is on track to open 225 stores over the next two financial years, supported by its regular cash accruals, and expects strong sales in the second half of this fiscal. “We anticipate sales growth of 10-15% and are guiding a long-term CAGR of 15-18%,” Kaushal Parekh,…
Nandadeep Jayakar Metro Brands has appointed Nandadeep Jayakar as the business head for Foot Locker India, effective immediately. Jayakar, who brings three decades of experience in operations, management, product development, merchandising, and supply chain, will report to Alisha Malik, president of the sports division, e-commerce, and CRM at Metro Brands. This appointment comes at a…
New Delhi: Footwear retail chain Metro Brands, on Thursday has reported 126.3 per cent increase in its consolidated net profit to Rs 155.57 crore in the fourth quarter ended March 31st, 2024. It had reported a consolidated PAT of Rs 68.74 crore in a similar period, a year ago, the company said in a regulatory…
Representative Image In the largest ever warehousing space picked up by an Indian footwear company, Metro Brands Ltd has leased a built-to-suit 3.25 lakh sq ft warehousing space in Bhiwandi near Mumbai as the company is looking to expand its operations. The company, counted as one of India’s largest footwear and accessory speciality retailers, has…
New Delhi: Footwear retail chain Metro Brands on Thursday reported a 12.57 per cent decline in consolidated net profit to Rs 98.78 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 112.99 crore during the October-December period a year ago, according to a regulatory filing from Metro…
