Home / Companies / News / Apparel retailers' FY21 revenue may fall 30% due to Covid-19: Crisil Report

Apparel retailers' FY21 revenue may fall 30% due to Covid-19: Crisil Report

Demand is expected to recover to pre-lockdown levels only during the October-December festive season, it added

Premium

Shortfall in profits will force the companies to pile up on debt and will affect their credit metrics, Crisil warned.

3 min read Last Updated : Jun 26 2020 | 4:07 PM IST

Store closures, social distancing, and lack of demand due to the coronavirus pandemic may cause a 30 per cent dent to revenues of the Rs 1.7 trillion organised apparel retailers in the current financial year, a report said on Friday.

Bottomlines (profits) of such companies will also be impacted as the operating profitability is likely to go down by 2 per cent, the report by ratings agency Crisil said adding that companies will be forced to pile up debt as a result of this.

The country has been put under a lockdown since March 26 to arrest the Covid-19 infections'

Topics : Coronavirus Lockdown fashion retailers Apparel industry

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in