Bata India gains after Q1 earnings

The company announced Q1 results after market hours on Thursday, 25 April 2013.

Meanwhile, the S&P BSE Sensex was down 77.97 points or 0.4% at 19,328.88.

On BSE, 31,000 shares were traded in the counter as against average daily volume of 26,000 shares in past two weeks.

The stock hit a high of Rs 724 and a low of Rs 706.20 so far during the day.

Commenting on the company's Q1 performance, Mr. Rajeev Gopalakrishnan, Group Managing Director, Bata India said, "We are pleased to report the first quarter results for 2013. Despite the existing market conditions, we achieved a double digit growth in this quarter. We undertook various initiatives that have helped up continue to maintain our foothold in such a volatile market condition. Our strategy of expanding our retail footprint continued with improvised merchandise and better designs and styles with great focus on our product quality and comfort. Very soon, we hope to see the market condition at ease and the company to see better growth in the quarters to come. We've focused on categories like ladies, non footwear in addition to others and we've seen encouraging results".

Bata India said it has continued its strategy of expanding its retail stores and has opened/relocated 22 new stores in Q1 March 2013. These new stores are mostly based on the new large format and are mostly above 3,000 sq ft. and are spread across metros, tier 1 and tier 2 cities, the company said. The company said that its commitment remains to provide incomparable shopping experience and excellent service to its valuable customers. Hush Puppies brand also saw expansion with the opening of 3 exclusive new stores and 7 shop-in-shops in leading department stores in Q1 March 2013, Bata India said in a statement.

Bata India said it has launched the Spring Summer 2013 collection under Marie Claire. Crafted with forever fun spirit, the collection had an array of footwear in vibrant colours and stunning patterns to suit individual styles of women from all walks of life, the company said. The spring summer 2013 collection also offered a comprehensive range of smart casual and formal accessories for ladies; clutches, shoulder bags and hand bags are available in smart fabrics complement the look, it added.

Bata India said that the wholesale business also continued to grow with new customers in unrepresented towns resulting in additional business. The Branding, Institutional, Safety and Exports divisions also continued to grow in terms of business and reach, Bata India said in a statement.

Bata India is the largest footwear retailer in India, enjoying a large market share in the organized sector. It retails through over 1,350 bata shoe stores located in over 500 cities across India.

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